The pair settled around the 50 EMA yesterday, where it maintained daily closing above 0.8800, therefore, we will hold onto our bullish intraday expectations which based on the bullish technical pattern shown in image where the neckline for the pattern is located at 0.8885. Stochastic supports our expectations which requires stability above 0.8795-0.8800.
Trading range for the day is among the major support at 0.8705 and the major resistance at 0.9150.
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 a breach above 0.8885 targeting 0.9150 and stop loss below 0.8795 may be appropriate.|