The pair approached the awaited technical objective at 1.0000, but positive signs appeared on momentum indicators have been capable of forcing it to show correctional movements. We believe that this aforesaid correction might take the pair towards 38.2% Fibonacci level which meets the previous broken neckline at 1.0150. The allover structure is still negative and we expect possiblebearish actions today, targeting 1.0000 and 0.9950 but areas of 1.0210 should hold to protect this negative short term scenario.

The trading range for today is among the key support at 0.9950 and the key resistance at 1.0210.

The short term trend is to the downside as far as 1.0780 remains intact with targets at 1.0000.

Weekly Report Previous Report

Support1.00801.00000.99500.98650.9805
Resistance1.01501.02101.02901.03351.0365
RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.0150 targeting 1.0000 and stop loss above 1.0235, might be appropriate.