The pair settles below the support of the main ascending channel shown in image and above the 76.4% Fibonacci correction, where the range bound- shaded in yellow- continues to confine trading, where positivity on stochastic is supporting the aforementioned range. We need to monitor trading among the key levels at 0.8525 support and 0.8655 resistance.
The trading range for the day may be among the 0.8455 support and 0.8720 resistance.
The short term trend is to the upside targeting 1.0370 so long as 0.8165 remain intact
|Recommendation||Based on the charts and explanations above we recommend buying the pair with hourly closing above 0.8655 targeting 0.8805 ,stop loss with hourly closing below 0.8595 OR selling the pair with hourly closing below 0.8525 targeting 0.8385 ,stop loss with hourly closing above 0.8595|