The pair has moved sharply to the downside after touching the upper line-resistance- of the descending channel dominating the movements from 1.0320 areas as seen on the provide four-hour chart. Actually, it stabilized below SMA 50 but classically speaking, we can see sideways areas established between 1.0035 and 0.9925; whilst AROON and RSI 14 indicators don't give clear signs. Thereby, we will avoid trading over intraday basis until the pair clears on the above mentioned zones.
The trading range for today is expected among the key support at 0.9830 and the key resistance at 1.0120.
The short term trend is to the upside targeting 1.0650 with steady daily closing above 0.9900.
|Recommendation||Based on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.|