Currently, the pair is stranded between the 200-hour from above and the 55– and 100-hour SMAs and the weekly PP from below. Given the strength of the southern barrier, it is more likely that the former is breached. In order to confirm a surge, the pair should also breach the monthly S1 and the weekly R1 circa 9.7050. A possible upside target in this scenario could be the monthly PP circa 9.85.
On the other hand, the 9.56 area should limit further losses in case bears take the upper hand.
Check out our trading platform: