The pair is fluctuating around the retest level shown yesterday at 1.0335; whereas the pair is gradually losing positive momentum and stochastic is nearing overbought areas. These factors encourage us to expect a bearish intraday direction; targeting 1.0130, then attempting to revisit 1.0000 once more. Keep in mind that these expectations require stability below 1.0425 to maintain chances of achieving targets.
The trading range for today is among the key support at 1.0130 and the key resistance at 1.0425.
The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
Previous Report Weekly Report
Support1.02751.02001.01301.00801.0045Resistance1.03351.03801.04251.04801.0585RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0335 targeting 1.0200 and stop loss above 1.0425, might be appropriate.