The pair closed trading yesterday above pivotal support 1.3575, thereby to determine an upcoming intraday direction. Hence, the pair is moving to the upside strongly due to support offered by the stochastic. We expect to witness some bullish intraday movement at least to test levels around 1.3750; levels that must be observed for today are represented in support 1.3575 and resistance 1.3750.
The trading range for today is among the key support at 1.3500 and the key resistance at 1.3860.
The short term trend is to the upside as far as the daily closing is above 1.2795 remains intact with targets at 1.5135.
|Recommendation||Based on the charts and explanations above our opinion is buying the pair by closing above 1.3640 targeting 1.3750 and stop loss below 1.3575, might be appropriate.|