Morning Report

The pair attempted to bullishly correct after its only attempt to breach pivotal support 0.9950. We still see that the bearish technical pattern is still intact, supported by the negative signs that are appearing through the stochastic. This makes us maintain yesterday's expectations of achieving a bearish intraday trend; requiring the assurance of the breach of support 0.9950 to pave the way to head towards 0.9865 then 0.9805. It is vital that 1.0070 is vital to maintain an awaited bearish direction today.

The trading range for today is among the key support at 0.9805 and the key resistance at 1.0120.

The short term trend is to the downside as far as 1.0780 remains intact with targets at 0.9705.

Previous Report Weekly ReportSupport0.99500.99000.98650.98050.9750Resistance1.00001.00701.01201.02001.0240RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 0.9950 targeting 0.9805 and stop loss above 1.0070, might be appropriate.