Morning Report

The pair is trading perfectly within the suggested scenario yesterday and is currently retesting the pivotal breached resistance at 1.0510 which turned into support. We might witness some volatility around the new support level in an attempt to gain upside momentum to support the bullish expectations for further upside moves over intraday basis which targets initially 1.0650; the upside move requires the stability of 1.0445.

The trading range for today is among the key support at 1.0335 and the key resistance at 1.0745.

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 1.0510 to 1.0650 and stop loss below 1.0445 might be appropriate