The pair reverses again from below 1.0500 resistance, and the main descending resistance of the falling wedge formation. As trading continue to be confined within the narrow range, we will try to benefit from the current downside attempt over intraday basis. Looking for a retest of 0.9900 level again.
The trading range for the day is expected among the key support at 0.9850 and the key resistance at 1.0050.
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 selling the pair below 1.0000 targeting 0.9950 and 0.9900, stop loss above 1.0050.|