The pair rallied to successfully settle above the key resistance and the main descending trend line around 0.9150. We may see a retest of the breached resistance area which should act as a support now for a probable resumption of the bullish wave targeting areas around 0.9300.

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.

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Weekly Report

RecommendationBased on the charts and explanations above we recommend, buying the pair around 0.9150 targeting 0.9200 and 0.9260. Stop loss below 0.9100.