The positivity on momentum indicators keeps the upside bias for the pair, suggesting possible upside movement towards the SMA 50; the negativity from the breach of the ascending channel’s support and the bearish technical pattern signal the possibility for extending the downside correction over intraday basis. This conflict makes us hold onto our neutrality today and observe the pair for clear indications.

The trading range for today is among the major support at 1.3910 and the major resistance at 1.4395.

The short term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

The pair retested the breached support at 1.6255 and reversed to the downside to stabilize below the 38.2% Fibonacci correction. Therefore, we expect an intraday downside move today targeting areas from 1.6045 and require stability below 1.6260.

The trading range for today is among the major support at 1.6000 and the major resistance at 1.6320.

The short term trend is to the upside with steady daily closing above 1.5315 with targets at 1.7000.

The pair is still trading sideways, stabilizing above the breached descending channel’s resistance and below the SMA 50, while Stochastic is adding negative pressures on the pair and restricting the awaited bullishness. In general, we still see the path clear for the intraday upside correction targeting 83.50 and requires the breach of 81.75 and stability above 80.50. 

The trading range for today is among the major support at 79.80 and the major resistance at 83.50.

The short term trend is to the downside as far as 89.35 remains intact with targets at 77.70.

The pair breached the support for the minor ascending channel mentioned yesterday, where it found support at 0.8800 and now pushing the pair to the upside to retest the breached support for the minor ascending channel. Areas of 0.8800 are the neckline for a minor bearish pattern and will support the pair to resume trading within the main descending channel. Therefore, we expect the pair to move to the downside today and require the clear breach of 0.8800 and stability below 0.8900 with targets mainly at 0.8650. 

The trading range for today is among the major support at 0.8650 and the major resistance at 0.8945.

The short term trend is to the downside with steady daily closing below 1.0330 targeting 0.8000.

Trading stabilized above the breached neckline yesterday, at the time the pair is finding difficulty in breaching the sensitive 61.8% Fibonacci at 0.9765 which is supported by the negativity on momentum indicators. The negative pressure might push the pair to retest the breached neckline before resuming the intraday upside move for today targeting 0.984. Breaching 0.9710 will delay the suggested upside move and might negate the effect of the bullish technical pattern.

The trading range for today is among the major support at 0.9630 and the major resistance at 0.9970.

The short term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.