The pair is still caught among sensitive levels mentioned yesterday, as those levels will define the outlook for the intraday move for the pair. We have signs of a bearish pattern, yet the stability of 50% correction is a positive sign that might push the pair to the upside again. Accordingly,we remain neutral for todayand observe the pair around the critical levels to see if the bearish pattern will be completed or it will breach the resistance ahead to continue the short term bullishness. Review yesterday's reports for more details.
The trading range for today is among the major support at 1.6300 and the major resistance at 1.6800.
The short term trend is to the upside with steady daily closing above 1.5315 with targets at 1.7000.
|Recommendation||After closing the morning position and based on the charts and explanations above we recommend observing the pair for more confirmations|