The SMA 50 held the pair from moving higher and was accompanied by clear negative signals on Stochastic over four-hour basis. Therefore, we hold onto our intraday downside move expected today and requires the clear breach of 0.8900 and stability below 0.9005.
The trading range for today is among the major support at 0.8700 and the major resistance at 0.9105.
The short term trend is to the downside with steady daily closing below 1.0330 targeting 0.8000.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair with hourly closing below 0.8900 targeting 0.8750 and stop loss above 0.9005 might be appropriate|