The pair dropped to trade below 0.9240 levels indicating that we might face the extension of the downside move this week. The first suggested target of the bearish move resides at 0.9030 levels which represents a suggested divergence level of a technical harmonic formation. The possible bearish move depends on stability below 0.9365 levels but we prefer stability below 0.9240 levels to support this negative outlook.
The trading range for this week is among key support at 0.8915 and key resistance at 0.9445.
The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.
Support 0.9165 0.9130 0.9080 0.9030 0.9000
Resistance 0.9220 0.9220 0.9240 0.9280 0.9305
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9220 targeting 0.9130, 0.9080 then 0.9030 and stop-loss with four-hour closing above 0.9305 might be appropriate this week