Morning Report

The pair breached 1.0060 and stabilized above it and halted at resistance for the descending channel that appears in the image above. Stability will remain above MA 100 pointing to an expectedbullishness today, but it seems that chances attempted some bearish correction intact to retest 1.0055. The awaited targets start at 1.0180 then 1.0225, but achieving it requires mainly the four-hour closing to remain above 1.0055.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0315.

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

Previous Report Weekly ReportSupport1.00551.00000.99501.99300.9865Resistance1.01801.02251.02651.03151.0365RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0055 targeting 1.0180 and stop loss below 0.9950, might be appropriate.