Trading prevails among the 20 & 50 SMA within the ascending channel which the main support at 0.8730; trading above this level supports the resumption of the general bullishness. Nevertheless, returning above 0.8800 is essential to confirm our expectations.
The trading range for this week is among the key support at 0.8675 and key resistance now at 0.8965.
The general trend over short term basis is to the downside targeting 0.7780 as far as areas of0.8965remain intact.
|Recommendation||Based on the charts and explanations above, our opinion is buying the pair around 0.8780 targeting 0.8930 and stop loss below 0.8675 might be appropriate|