The pair is still fluctuating around the MA 50 in an attempt to obtain negative momentum through momentum indicators, in order to start the previously suggested bearish move; therefore, we expect the fluctuation to continue around this level and the retest level at 1.0140, before heading towards resuming the expected bearish intraday direction that targets 0.9925 initially. Chances of resuming this scenario depend on building a base below 1.0140.
The trading range for today is among the key support at 0.9925 and the key resistance at 1.0250.
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 1.0140 targeting 0.9925 and stop loss below 1.0250, might be appropriate.|