The pair continued its bearish correction from yesterday until it halted at 50% Fibonacci at 1.0510. The stochastic is showing oversold signs with positive crossover signs, alongside trading above SMA 100, we see that the expected direction for today is bullish over an intraday basis; targeting 1.1675 then 1.1740 and requires support levels between 1.0510 and 1.0470 remains intact.
The trading range for today is among the key support at 1.0470 and the key resistance at 1.0740.
The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
Previous Report Weekly Report
Support1.05651.05101.04701.04301.0365Resistance1.06301.06751.07401.08201.0895RecommendationBased on the charts and explanations above our opinion is buying the pair around1.0565 targeting 1.0675 and stop loss below 1.0470, might be appropriate.