The pair ended yesterday above 0.8750, and this is a positive sign that supports continuation of intraday bullishness. Stochastic is trending to the upside as well supporting the pairs' movement within the ascending minor channel shown on the secondary image above. Therefore, we think that there is a good possibility for the pair to head toward the awaited targets at 0.8885 and 0.9000. Breaching 0.8700 may delay the awaited scenario.
Trading range for the day is among the major support at 0.8615 and the major resistance at 0.8885.
The short term trend is to the upside targeting 1.0370 as long as 0.8165 remain intact.
|Recommendation||Based on the charts and explanations above we recommend buying the pair around 0.8715 targeting 0.8885 and stop loss with hourly closing below 0.8680 may be appropriate.|