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The pattern started when the pair bounced from 0.9581 and after testing resistance levels at 1.0002 and 1.0007 it has slowed down at 0.9946 where the pair is currently trading. Indicators on aggregate do not suggest any clear emerging trends on any of the time horizons, but the current market sentiment is 60/40 in favor for the bulls. Long traders could focus on the daily resistance level at 0.9967. If this level is breached, next target could be at 0.9991.
Short traders could focus on the daily support level at 0.9927. If the pair breaches this level, next possible target could be at 0.9902.
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