The pair is currently approaching the first potential reversal zone of the suggested Butterfly harmonic pattern. The pattern wasn't confirmed yet, but the pair reached around 0.9210, which is a critical barrier that separates between testing the (D2) point and settling for the current areas around D1 that could lead the pair to start a downside correction.We remain neutral in our morning report, observing the pair's behavior in the range of 0.9210-0.9225.
The trading range for today is among the major support at 0.8975 and the major resistance at 0.9400.
The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.
|Recommendation||Based on the charts and explanations above we remain neutral, awaiting more confirmations|