The pair attempted to breach the support levels mentioned in yesterday's report, while currently the pair is rising towards 1.0490 levels, but facingSMA 50 levels as strong resistance that preserves yesterday's suggested bearish trend, which is supported by negative signs appearing on the stochastic oscillator. These factors force a bearish intraday projection, targeting 1.0395 levels, which requires a clear breach of 1.0490 levels along with stability below 1.0595.
The trading range for today is among the major support at 1.0395 and the major resistance at 1.0670.
The short term trend is to the upside as far as 0.9925 is intact with targets at 1.1485.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair with the breach of 1.0490 targeting 1.0395 and stop loss below 1.0565 might be appropriate|