The lower line of Keltner channel succeeded in providing the pair with a good support yesterday as it prevented it from breaching one of the most important support levels at 0.9080 as seen on the provided daily chart. Stochastic is moving towards the oversold zones but we need to witness a convenient positive overlap since RVI 14 remains negative. A break above 0.9175 may assist the pair to beat 0.9300 later and 0.9030 is the floor for buyers. Anyway, we will avoid trading until the pair clears one of those two pivotal edges.
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, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.|