The pair stabilized below pivotal support 1.0265 - the previously breached 76.4% Fibonacci - that meets withSMA 50; thus; making us expect a bearish intraday trend due to negative signs appearing on Stochastic, where technical targets start at 1.0135 then 1.0040. Keep in mind that this scenario will prevail if we do not witness a daily closing above 1.0265.
The trading range for today is among the key support at 1.0040 and the key resistance at 1.0340.
The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair around 1.0265 targeting 1.0135 and stop loss above 1.0340, might be appropriate.|