Morning Report

The pair was not able to remain above 1.0100, which therefore maintained yesterday's suggested scenario intact, as well as the pair returning below the pivotal level 1.0060. These factors make us expect the bearish intraday trend to prevail as its technical targets are around 0.9950 then 0.9865. Keep in mind the importance of the released of economic data from Canada as of 11:00 GMT.

The trading range for today is among the key support at 0.9865 and the key resistance at 1.0140.

The short term trend is to the downside as far as 1.0780 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 1.0060 targeting 0.9950 and stop loss above 1.0140, might be appropriate.