The support of the ascending channel was able to stop the bearishness, while the pair provided a daily closing yesterday above this level. In addition Stochastic is positive over daily basis. Therefore, we expect an intraday upside move today, targeting mainly areas around 0.8450. But, a breach of 0.8325 and stability below it could be a negative sign that might trigger a downside movement, targeting 0.8170 and then 0.8100.
The trading range for today is among the major support at 0.8200 and the major resistance at 0.8450.
The short-term trend is to the upside as far as 0.7785 remains intact, targeting 1.0370.
|Recommendation||Based on the chart and explanations above, our opinion is buying the pair around 0.8325, targeting 0.0.8450 and stop loss below 0.8255 might be appropriate.|