The pair achieved the awaited targets yesterday, to sharply decline targeting 0.8100, but the pair but stabilized with daily closing above it. Momentum indicators signal possible fluctuations and upside tendency before continuing the expected intraday downside movement for today, the main targets are the psychological barrier at 0.8000 and 0.7900. A breach of 0.8170 could delay the awaited targets.
The trading range for today is among the major support at 0.7900 and the major resistance at 0.8235.
The short-term trend is to the downside with steady daily closing below 1.0330 targeting 0.7900.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair around 0.8170 targeting 0.8000 and stop loss above 0.8285 might be appropriate|