The decline seen pushed the pair below 0.9400, which in result negated our intraday expectations for yesterday. But, as shown above on the chart, the general trend is still to upside and the pair is still stable within the scope of the ascending channel, above the main support level at 0.9290. Stochastic is within oversold areas, which also support the return of the upside move today. Consolidation above 0.9400 is required to confirm the upside move.
The trading range for today is among the major support at 0.9400 and the major resistance at 0.9750.
The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.
**New York Candlesticks**
|Recommendation||Based on the chart and explanations above, our opinion is buying the pair around 0.9350, and take profit in stages at (0.9490, 0.9590 and 0.9660) and stop loss below 0.9235 might be appropriate today|