As shown above on the chart, 78.6% Fibonacci correction stopped the pair's positive momentum, while momentum indicators are negatively biased. But, the exponential moving averages 20 and 50 are still trading positively.Thus, the Positivity remains valid today, while a breach of 0.8215 should confirm the bullish wave, which could push the pair towards 0.8360 zones.
The trading range for today is among the major support at 0.8020 and the major resistance at 0.8360.
The short-term trend is to the upside with steady weekly closing above 0.6980 targeting 0.8815.
|Recommendation||Based on the chart and explanations above, we recommend buying the pair around 0.8215, targeting 0.8360 and stop loss with 4-hour closing below 0.8120 might be appropriate.|