Analysis based on round-number levels, price channels and modified Elliot Waves
The currency pair is traded in the range of the lower border of the upward price channel. Price pivot zone 9.6085 held back sellers, while the Stochastic Oscillator (30.10.10.) indicates that the price is in the oversold zone. Breaking through the resistance level of 9.6700 will result in formation of an upward pattern within the overall uptrend.
Trading recommendations:
Buy above 9.6700.
Stop Loss under the support level 9.6085.
Target levels – 9.7274; 9.8000; 9.8910.