The pair touched the previously breached upside support channel after pushing upwards yesterday, where we find that the pair reversed due to the negative effect of momentum indicators. We presently have not insured what it required to determine the pair's upcoming intraday trend, where we recommend returning to our weekly report to point out conflicting points between the daily and four hour time frame.
The trading range for today is among the key support at 1.5975 and the key resistance at 1.6345.
The short term trend is to the upside as far as 1.5315 remains intact with targets at 1.7000.
|Recommendation||Based on the charts and explanation above our opinion is observing the pair’s movement around critical levels, highlighted above, to insure its upcoming direction.|