Despite yesterday's positive bias, the pair failed to close the day above the previously breached pivotal support at 0.8260-now at 0.8255- and this keeps the downside move expectations valid. Positivity on momentum indicators may delay acquiring the awaited targets at 0.8170 followed by 0.8100. Steady daily closing below 0.8255 is required for these expectations to remain valid.
The trading range for the day is expected among the key support at 0.8100 and the key resistance at 0.8350.
|Recommendation||Based on the charts and explanations above we recommend selling the pair around 0.8255 targeting 0.8200 and 0.8100 ,stop loss above 0.8350 may be appropriate|