Morning Report

After successfully breaching the neckline for the bullish technical pattern at 1.0370, the pair is currently fluctuating around this level in an attempt to gather more bullish momentum. From here we expect the pair to incline on the intraday basis; targeting 1.0530 – 1.0600 as far as 1.0370 is intact on the four hour charts.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0600

The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 1.0370 to 1.0530 and stop loss below 1.0265 might be appropriate.