The pair is currently stable above the exponential moving averages 20 and 50, while Stochastic attempts to turn positive after reaching the 20-point level. In fact, we need consolidation above 1.0205-55 to confirm the return of the upside move, but now, we depend on stability above 1.0053, where consolidation above this level could support the pair to complete the bullish technical structure sooner or later.
The trading range for today is among the major support at 0.9905 and the major resistance at 1.0360.
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, we recommend buying the pair around 1.0140, and take profit in stages at (1.0255 and 1.0305) and stop loss below 1.0000 might be appropriate.|