The pair is currently 0.9298. We have a clear rectangle pattern indicating further movement short but we are showing a possible break of the trend line to the long side. If it breaks – Initial target is the 0.500 Fibo/R2 @ 0.9330 and then the R3/0.214 Fibo @ 0.9381. A failure looks to continue down to the 0.9198 area The Average Daily Trading Range (ATR) for the pair is 75 pips.
