The pair continues its bearish pressure below the previously breached neckline for the bearish technical pattern shown yesterday. Some fluctuation is expected due to the effect of oversold signs appearing through momentum indicators to retest 1.0350 before heading towards achieving more expected bearish movement today; targets start at 1.0180, keeping in mind the importance of building a base below 1.0400 to insure achieving these expectations.
The trading range for today is among the key support at 1.0180 and the key resistance at 1.0400.
The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
Support1.03101.02801.02101.01801.0135Resistance1.03501.04001.04951.05201.0580RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0350 targeting 1.0280 and stop loss above 1.0400, might be appropriate.