The sharp incline occurred since yesterday succeeded in pushing the royal pair above the sensitive levels of 0.8380 as seen on the provided chart. AROON down supports our technical idea that, the caught butterfly pattern is still awaited to send the pair upwards, while RSI 14 also is moving higher. Thereby, we think that possible bullish movements could be seen over intraday basis.
The trading range for today is among the key support at 0.8255 and key resistance now at 0.8550.
The general trend over short term basis is to the downside, targeting 0.7780 as far as areas of0.8965remain intact.
Support0.83550.83800.82950.82550.8205Resistance0.84000.84200.84700.85000.8550RecommendationBased on the charts and explanations above our opinion is, buying the pair around 0.8380 targeting 0.8500 and stop loss below 0.8295 might be appropriate.