After reaching the projected technical target areas of yesterday's bearish anticipation at 0.9100-check the analysis here-, the royal pair started to move steadily upwards, reviving that the positive pressure of the major upside rally inside the recently created bullish channel of the new impulsive wave is to continue. There are two remarks; first, the uptrend line of the momentum is currently supporting the pair and second, the areas between 0.9030 and 0.9070 should hold to protect the scenario.
Trading range is among the key support at 0.8960 and key resistance now at 0.9320.
The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.
|Recommendation||Based on the charts and explanations above our opinion is, buying the pair from 0.9120 targeting 0.9230 and stop loss below 0.9040 might be appropriate.|