The pair is trading within narrow levels below the correction shown yesterday at 0.8170, while Stochastic shows negative signals on the four-hour basis. These factors have driven us to expect an intraday downside move, with targets at the psychological barrier of 0.8000. a breach of 0.8170 could delay the awaited targets.
The trading range for this week is among the major support at 0.7960 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 today|