In line with our weekly predictions and yesterday's outlook, the pair has moved aggressively upwards activating the awaited bullish crossover on RVI 14 indicator and Stochastic as seen on the main daily chart. Moreover, we have witnessed a comfortable closing above SMA 100 for the second consecutive day; thus, the bullishness may continue over intraday basis supported by the bullish classical structure appearing on the four-hour timescale. Meanwhile, a break above 0.9230 will bring additional buying interests and will accelerate the bullish wave.
The trading range for today is among key support at 0.9030 and key resistance at 0.9435.
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 0.9185 targeting 0.9400 and stop loss below 0.9030 might be appropriate.|