The pair reversed to the downside due to the negativity highlighted yesterday, where it has presently entered oversold areas; therefore making us await resuming the expected bullish intraday direction. SMA supports the expected ascend, alongside trading that continues within the upside channel. Note the importance of stabilizing above 1.4060 to insure resuming the awaited targets that start around 1.4325 then 1.4400.
The trading range for today is among the key support at 1.4060 and the key resistance at 1.4420.
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 around 1.4150 targeting 1.4280 and stop loss below 1.4095, might be appropriate.|