The pair has neared to achieve the first awaited target around 1.0200 after successfully retesting 1.0335, but losing bearish momentum has halted the downside trend temporarily. Somekind offluctuation is occurring now due to the positive momentum appearing on the four-hour chart that may push the pair towards 1.0300 - 1.0335 as the maximum limit, before continuing the bearish intraday direction as we await to achieve the primary chief target around 1.0125. It is vital that the daily closingremains below 1.0385 is a vital factor to maintain chances of achieving the suggested scenario.
The trading range for today is among the key support at 1.0125 and the key resistance at 1.0385.
The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
Previous Report Weekly Report
Support1.02001.01251.00801.00451.0000Resistance1.03001.03351.03851.04251.0480RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0300 targeting 1.0125 and stop loss above 1.0400, might be appropriate.