The pair declined and is currently reaching around 50% Fibonacci correction of the bullish wave, which started at 0.9303 and ended at the top of 0.9594. Stochastic is currently within oversold areas, which made 50% and 61.8% Fibonacci corrections strong support levels. We expect the upside move to return again, affected by the bullish technical structure, but consolidation below 0.9365 weakens the upside move significantly, while a breach of 0.9300 could trigger another bearish wave.
The trading range for today is among the major support at 0.9300 and the major resistance at 0.9660.
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 0.9450, and taking profit in stages at (0.9590 and 0.9660) and stop loss with 4-hour closing below 0.9365 might be appropriate|