The pair reversed slightly from the horizontal resistance in addition to the descending trend line at 0.9150. Price is currently making another attempt to breach the level. We anticipate a four-hour closing above 0.9150 to expect the extension of the rally initially towards the 50 days SMA around 0.9250.
The trading range for the day is expectedamong key support at 0.9000 and key resistance at 0.9300.
The general trend over short term basis is to theupsidetargeting0.9950as far as areas of0.8850remain intact.
|Recommendation||Based on the charts and explanations above we recommend, buying the pair with four-hour closing above 0.9150 targeting 0.9225 and 0.9300. Stop loss below 0.9075.|