Just a few pips separated between the previous session's recorded bottom and the pivotal support of 134.20, previous resistance. We see how the bullish channel is organizing the awaited upside wave as well, whilst SMA 50 is carrying the bullishness from below. Thereby, we hold onto our morning predications for the rest of the day, targeting 136.50 areas and we remind you that 134.20 should hold to protect our scenario. Stochastic is moving higher, supporting our overview.
The trading range for today is among key support at 132.70 and key resistance at 137.50.
The general trend over short term basis is to the downside targeting 118.80 as far as areas of 150.75 areas remain intact.
Support134.20133.20132.70131.95131.55Resistance135.00135.85136.50136.85137.50RecommendationBased on the charts and explanations above our opinion is, buying the pair around 134.20 targeting 136.50 and stop loss below 133.20 might be appropriate.