Morning Report

The euro versus dollar returned to ascend and retest the breached main support currently at 1.4730. The clear positive pressure appearing through momentum indicators needs the pair to unload these signs and gain some negative momentum, which in turn will help it continue its new bearish direction. The 100 MA is still pressuring the pair to move to the downside. From here we can expect a bearish trend over an intraday basis for today, which requires the four-hoursclosing toremain below 1.4770 and targets around 1.4615, initially.

The trading range for today is among the key support at 1.4480 and the key resistance at 1.4925.

The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000.