The pair ended trading yesterday above the critical resistance at 0.9770 -61.8% Fibonacci correction- confirming the resumption of the current bullishness. Over the line chart, we can see the possibility for a new ascending channel organizing the intraday wave and we might see the pair consolidate at the support around 0.9720 before resuming the expected intraday bullishness targeting 0.9845 and 0.9915. Breaching the mentioned support will drive the pair to retest the main breached resistance now a support at 0.9625.
The trading range for today is among the major support at 0.9625 and the major resistance at 0.9915.
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 buying the pair around 0.9720 targeting 0.9915 and stop loss below 0.9625 might be appropriate|