Stronger US data pushed the pair above 6-day high. In yesterday's session, we recommend buying above 0.9562 with the targets at 0.9600 an 0.9625. The pair made a high at 0.9610. We can expect a bigger upswing above 0.9625 the 80.0 fib level towards 0.9685 and 0.9726 on a positional basis. On the down side, the pair has support at 0.9510 20Dsma. Below 0.9510, the ascending trend line will provide enough support to push the prices higher. In case the prices close below the ascending trend line, the base support 0.9400 will act as strong support. The pair has been trading in a 160 pips range. For an intraday session, the pair has support at 0.9540. In case the pair closes above 0.9576 on a daily basis, it can challenge 100 pips more on the upper side. For an hourly basis, above 0.9576 we can expect good momentum towards 0.9590, 0.9610, and 0.9625 levels.
The material has been provided by InstaForex Company - www.instaforex.com
