The cable was able to remain abovethe brokenresistance yesterday, where it currently turned into support at 1.6625; thus, insuring the bullish short term direction. Henceforth, we see that the expected direction for today could possibly be bullish over an intraday basis; initially targeting 1.6780 and then 1.6880. It is vital that the four-hour closingremains above 1.6625 to insure these expectations' success.
The trading range for today is among the key support at 1.6495 and the key resistance at 1.6880.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.
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|Recommendation||Based on the charts and explanations above our opinion is buying the pair from 1.6625 targeting 1.6780 and stop loss below 1.6515, might be appropriate.|