The pair is currently forming the awaited downside correction, where a retest of levels between 38.2% Fibonacci correction and 0.9820 is possible. Consolidation above 0.9770 supports the upside move to extend and attempt to breach the several resistances above, such as 0.9910. A breach of 0.9710 should negate our intraday positive expectations.
The trading range for today is among the major support at 0.9710 and the major resistance at 1.0125
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 0.9820, and take profit in stages at (0.9970 and 1.0080) and stop loss with 4-hour closing below 0.9710 might be appropriate today|