Analysis based on round-number levels, price channels and modified Elliot Waves
The overall movement is upward. The pair is trading in the range of 365 and 150 moving averages. Bullish divergence has formed on Awesome Oscillator indicator, and the Stochastic Oscillator indicator shows an exit from the oversold zone. Breaking through the resistance level 9.8170 will result the formation of an upward structure of an M15 level within the overall upward trend.
Trading recommendations:
Buy above 9.8170.
Stop loss – 9.7830.
Target levels – 9.8566; 9.9160; 9.9625.