The pair inched closer to the awaited key targets around the retest level of the previously breached support level for the broken upside channel, which currently has turned into resistance at 0.9805. Momentum indicators are giving off negative signs that make us expect to witness some bearish intraday movement targeting the strength of 0.9625. Note that the breach of 0.9805 could push the pair towards more upside movement and return within the broken ascending channel.
The trading range for today is among the key support at 0.9555 and the key resistance at 0.9875.
The short term trend is to the downside as far as 1.0330 remains intact with targets at 0.8000.
Support0.97000.96250.95550.95050.9460Resistance0.98050.98750.99451.00001.0055RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9805 targeting 0.9625 and stop loss above 0.9875, might be appropriate.