The pair reversed once more from levels near the top of the rang-bound we mentioned yesterday, however this reversal hasn't changed the overall ranging conditions, only a sustained break below the bottom of this range around 0.9930 could lead to downside directional move. Therefore, we prefer staying aside this morning and at the current sensitive support level.
The trading range for today is expected among the key support at 0.9890 and the key resistance at 1.0075.
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, we recommend staying aside awaiting further confirmations|