The pair’s price exploited the positive pressure resulting from the formation of the 55-period moving average as a new support, centered around 0.8185, in addition to the positive momentum exhibited by the Stochastic indicator. This allowed the price to surge recently above the stable resistance at 0.8255, marking its transition into an uptrend and recording tangible gains by reaching approximately 0.8330.

 

We expect the formation of a primary support level at 0.8260 in the current trading session. With the continued presence of key bullish momentum indicators, the price is anticipated to resume its upward drive, targeting 0.8372 soon. If this barrier is breached, 0.8415 will become the next primary target for the bullish move.

 

The expected trading range for today is between 0.8295 and 0.8372.

 

Today’s Price Forecast: Bullish