From a technical point of view, the pair has rebounded above its rising 50-day moving average (in blue) as the daily RSI stands within its buying area above 50. Readers may therefore consider the potential for further advance above horizontal support at 1.3775. The nearest resistance would be set at horizontal resistance at 1.4340 and a second one would be set at set at Mar. 19 top at 1.4670 in extension.
Source: TradingView, GAIN Capital