The pair has pushed to the upside to revisit pivotal resistance 1.0330, clearly appearing in the sideway range that has been cornering the pair's trading since the beginning of the week. The pair rebounded from the mentioned resistance, accompanied by negative crossover signs appearing through the stochastic and thereby making us expect a bullish intraday trend that will initially start with the breach of support for this range around 1.0220 and head towards 1.0110. The breach of 1.0330 could postpone achieving the expected bearish targets.
The trading range for today is among the key support at 1.0125 and the key resistance at 1.0415.
The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
Previous Report Weekly Report
Support1.02201.01251.00801.00451.0000Resistance1.02801.03301.04151.04801.1585RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.0220 targeting 1.0110 and stop loss above 1.0280, might be appropriate.