The pair stabilized trading below the breached neckline yesterday at 1.0060, while positive signs are appearing on momentum indicators and is expected to cause some fluctuation to retest this level. We see that the expected direction for today is bearish and its targets are around 0.9950 then 0.9865. Keep in mind that the breach of 1.0130 could make chances of achieving this scenario fail.
The trading range for today is among the key support at 0.9865 and the key resistance at 1.0130.
The short term trend is to the downside as far as 1.0780 remains intact with targets at 1.0000.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair from 1.0060 targeting 0.9950 and stop loss above 1.0150, might be appropriate.|