The pair is trading near the downside channel's resistance which currently declinied to 0.8520. We can notice that the pair is trading narrowly since yesterday, among Fibonacci corrections at 23.6% and 38.2%. In general, consolidating below the mentioned resistance support our expectations for an intraday downside move with targets starting from 0.8325, but the pair should consolidate below the resistance area among 85.20-40.
The trading range for today is among the major support at 0.8325 and the major resistance at 0.8600.
The short-term trend is to the downside with steady daily closing below 1.0330 targeting 0.8000.
|Recommendation||Based on 8670 charts and explanations above our opinion is selling the pair around 0.8520 targeting 0.8325 and stop loss above 0.8600 might be appropriate today|