Technical Reasons: 1- Positive divergence on MACD 2- Breaking the neck line would confirm the Head and Shoulders Pattern on 4H time frame 3- Breaking Resistance at 0.7335 supports the bullish outlook
Fundamental Reasons: 1- USD is weak because of the Trump Decisions and FED concerns about weak inflation data which may enforce them to lower their rate path expectations in Sep 2- Comdoll is getting higher with the positive outlook for commodities prices and global growth outlook 3- RBNZ wont take any easing measures regarding the recent data albeit he would not rather also hike (neutral stance) ------------
SL should be placed below 0.7200 TP1 0.7435 - TP2 0.7500 (long term target)
Keep yourself updated with new ideas and data Good Luck