The pair has been bearishly correcting since yesterday, while itapproaches the retesting level from the previously breached neckline at 93.45. The stochastic is showing positive signs that support continuing the expected bullish direction over an intraday basis; requiring the retest level to maintain its stance to head towards 94.80 mainly.
The trading range for today is among the key support at 93.20 and the key resistance at 94.80.
The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.
Previous Weekly Weekly ReportSupport93.4592.7092.2591.6090.90Resistance94.0094.8095.5596.0096.35RecommendationBased on the charts and explanations above our opinion is buying the pair from 93.45 target 94.80 and stop loss below 92.70, might be appropriate.