The pair reached the resistance for the main descending channel and turned lower to stabilize below the 23.6% Fibonacci correction alongside the negative signals from Stochastic over four-hour basis. Therefore, we maintain the intraday bearish expectations for today with the first target at the support for the sideways range at 0.8325; breaching 0.8480 will weaken this scenario.
The trading range for today is among the major support at 0.8250 and the major resistance at 0.8540.
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 0.8480 targeting 0.8325 and stop loss above 0.8540 might be appropriate|