The pair stabilized amid the sideway range as oversold signs appear through the stochastic that may push to revisit this range's resistance at 1.0560, before heading towards the bearish intraday direction according to our suggested scenario yesterday. This expected descend requires the four-hour closing to stabilize below 1.0560.
The trading range for today is among the key support at 1.0390 and the key resistance at 1.0670.
The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2295.
Support1.04951.04501.03951.03501.0320Resistance1.05601.06101.06701.07001.0750RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0560 targeting 1.0390 and stop loss above 1.0670, might be appropriate.