The pair continued hovering around same trading levels since the opening of the week; whilst Stochastic is on its way to prove the clear oversold case as seen on our provided daily chart. Once more, Keltner channel can reflect oversold case when the price moves below its lower lines. But, we will not suggest an upside recovery due to the sensitivity of the current levels since the pair is facing 61.8% Fibonacci of the entire upside move from 0.8565 to 0.9590. In result, staying aside over intraday basiswill be our technical choice. Stability below 0.8925 may bring a retest of the key support level around 0.8850.
The trading range for today is among key support at 0.8800 and key resistance at 0.9105.
The general trend over short term basis is to the upsidetargeting 0.9950 as far as areas of 0.8850 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.|