After reaching the technical objective of our yesterday's reports at 132.90, the pair found a solid support around the lower line of the ascending channel, which controls the harmonic movements. The secondary image of the four-hour interval shows a bullish candlestick formation alongside positive sign appearing on RSI14. Thus; potential upside correction could be witnessed over intraday basis.
The trading range for today is among key support at 130.50 and key resistance at 136.80.
The general trend over short term basis is to the downside, targeting 118.80 as far as areas of 150.75 areas remain intact.
Support133.60133.10132.50131.65130.50Resistance134.25134.80135.50136.20136.80RecommendationBased on the charts and explanations above our opinion is, buying the pair around 133.60 targeting 136.10 and stop loss below 131.55 might be appropriate.
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