The pairis still hoveringaround 38.2% Fibonacci correction, where this level failed to support the pair to take a clear upside movement. Furthermore, the exponential moving averages 20 and 50 prevent the extension of the upside move, in addition, the critical resistance of 23.6% Fibonacci correction at 0.9865 supports the downside movement. Therefore, we hold onto our negative expectations as they are, however, consolidation below the mentioned resistance is necessary to ahieve this scenario.
The trading range for today is among the major support at 0.9635 and the major resistance at 0.9970
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 0.9825, targeting 0.9635 and stop loss with 4-hour closing above 0.9910 might be appropriate.|