The pair is fluctuating around the support of the range bound shaded in yellow at 0.8525, steady daily closing above the level supports the possibilities of an intraday upside move. As a result, we anticipate an upside rebound toward 0.8630 and 0.8675, where we should monitor trading carefully up there, breaching that level will push toward more bullishness toward 0.8770, while breaching 0.8525 will lead to a direct decline toward the support of the descending channel at 0.8375
The trading range for the day may be among the 0.8415 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 around 0.8525 targeting 0.8665 and stop loss below 0.8460 may be appropriate|