The pair has closed positively above SMA 100 yesterday as seen on the provided daily chart. Meanwhile, RVI 14 is on the way to crossover positively within oversold zones. Therefore, our bullish predications discussed in the weekly report remain unchanged supported the wide support areas between 0.9105 and 0.9030. Only a break of 0.9030 will give us a rational reason to concern.
The trading range for today is among key support at 0.8965 and key resistance at 0.9310.
The general trend over short term basis is to the upside, targeting 0.9950 as far as areas of 0.8850 areas remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, buying the pair around 0.9125 targeting 0.9310 and stop loss below 0.9030 might be appropriate.|