The pair was not able to build a base below pivotal support 1.0330 as it pushes upwards due to the positive momentum appearingon momentum indicators since yesterday. These factors, alongside stability aboveSMA 100, are factors that make us expect a bullish direction for today that targets retesting support for the previously breached bullish direction that has currently turned into resistance at 1.0495. In return, keep in mind that this scenario will prevail if we do not witness the four-hour closing below 1.0330.
The trading range for today is among the key support at 1.0265 and the key resistance at 1.0495.
The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
Previous Report Weekly Report
Support1.03501.03301.02651.02151.0175Resistance1.04101.04951.05501.05851.0630RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.0350 targeting 1.0495 and stop loss below 1.0265, might be appropriate.