WEEKLY CHART: The chart has finally tested the 76.4% level at 1.0000, also the centre of congestion from 2008.

S/term support has been seen here, but we await a better reaction.

DAILY CHART:

On the Daily chart we keep in mind still the positive RSI divergence here, hinting at s/term bear fatigue.

However, first resistance around the 1.0215 19-Apr high, corresponding with prior lows, needs to be overcome in order to shake off s/term risk of a break lower.

Then, beyond the 1.0368 22-Feb low, the bear channel top projection around 1.0525 represents the next hurdle that must be negotiated, to raise medium term recovery expectations.

Meanwhile bear risk remains present.