The pair is still biased to the downside and stable below the descending channel's main support, which suggests that the downside move could extend today. On the other hand, we can see the momentum indicators are within oversold areas, while the pair is stable above the upper line of Bollinger Band indicator. Therefore, we will hold onto our neutrality for today awaiting more confirmations regarding the pair's movement.
The trading range for today is among the major support at 0.7310 and the major resistance at 0.7920.
We need more confirmations regarding the pair's short-term movement, waiting to observe the pair's behavior around 0.7665 until closing this week.
|Recommendation||Neutrality is our recommendation, while we recommend observing the pair’s movement for more confirmations.|