The pair's upside move halted at the intraday descending channel's resistance shown above, and trading is caught below the resistance and above the SMA 50. This move is unloading the upside momentum and supportingthe resumption of the intraday bearishness for todayespecially with stability below the previously breached support at 0.9665. Targets start at 0.9500 then 0.9400 while breaching the resistance area between 0.9640-0.9665 will delay those targets.
The trading range for today is among the major support at 0.9400 and the major resistance at 0.9740.
The short term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair around 0.9640 targeting 0.9500 and stop loss above 0.9740 might be appropriate|