Morning Report

The pair is fluctuating around the previously breached pivotal support at 1.0410, with resistance preventing more bullish movement and protecting previous expectations of a bearish intraday trend. The stochastic is showing negative signs that support expectations of a bearish direction awaited for today and will prevail if 1.0475 remains intact.

The trading range for today is among the key support at 1.0305 and the key resistance at 1.0500.

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

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RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.0410 targeting 1.0305 and stop loss above 1.0500, might be appropriate.