The pair continues to trade with a bullish bias since yesterday gradually approaching the sensitive resistance for intraday trading at 0.8885. Positive effect from the 50 EMA and breaching the falling wedge formation are factors that supports our positive expectations over intraday basis, where breaching 0.8885 will open the door toward 0.9000 as a first main target. Breaching 0.8765 may delay achieving the awaited targets
Trading range for the day is among the major support at 0.8680 and the major resistance at 0.9000.
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 with hourly closing above 0.8885 targeting 0.9000 and stop loss with hourly closing below 0.8795 may be appropriate.|