The pair succeeded in building a technical base after breaching for the previous discussed neckline-valued at 1.3560-. The resistance line of the bearish channel of the short term is also valued at 1.3600 in addition to the negative signs appearing on momentum indicators are presently preventing the pair from achieving additional inclines. The allover direction might be bullish today, supported by the stable move above SMA 100. The technical targets reside at 1.3670 and then 1.3730. This scenario will be valid as far as 1.3460 remains intact. Note that, the Good Friday's vacation we think that, this report might be enough for today and the next update will be published on next Monday.
The trading range for today is among the key support at 1.3460 and the key resistance at 1.3730.
The short term trend is to the downside as far as 1.4410 remains intact with targets at 1.2450.
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|Recommendation||Based on the charts and explanations above our opinion is buying the pair with the breach of 1.3600 targeting 1.3730 and stop loss below 1.34520, might be appropriate.|