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Morning Report
The pair found support at 76.4% Fibonacci around 1.0345 rebounding to the upside due to support from the bullish trend appearing through momentum indicators; therefore, we expect the pair to retest support for the previously breached bullish channel, which has currently turned into resistance and is ascending towards 1.0440 before resuming the expected bearish intraday direction. Key targets start at 1.0315; requiring trading to stabilize below 1.0440.
The trading range for today is among the key support at 1.0245 and the key resistance at 1.0440.
The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.
Previous Report
Weekly Report
| Support | 1.0345 | 1.0315 | 1.0245 | 1.0190 | 1.0135 |
| Resistance | 1.0405 | 1.0440 | 1.0505 | 1.0565 | 1.0595 |
| Recommendation | Based on the charts and explanations above our opinion is selling the pair around 1.0440 targeting 1.0315 and stop loss above 1.0510, might be appropriate. | ||||
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