Technical Outlook and Chart Setup:
There are no significant changes from the last three sessions as the pair is consolidating the previous gains. We expect that a bullish breakout should materialize in the course of 1-2 trading sessions towards the measured extension levels placed around 98.50 and 99.00 (depicted above). Long positions taken earlier can be held for the mentioned above upside targets, later on, buying of fresh intraday dips should be beneficial. Support remains strong at 95.00 level. There is no reason to go short for now, be patient and hold on to longs for now while the pair is consolidating.
Trading Recommendations:
Continue holding long positions for now. Fresh buying can be made during intraday tips. Target 98.50-99.00.
Good Luck!
