Morning Report

The pair is facing difficulty in breaching minor support shown yesterday, where it has currently risen to 1.0025 due to support from the positivity of momentum indicators. Meanwhile, current trading is wedged above this support and below MA 100. We see that this has formed negative pressure on the pair, where it is expected to lead it towards achieving the bearish trend for today's trading. Technical targets start at 0.9930 and require 1.0165 to remain intact to be prevail.

The trading range for today is among the key support at 0.9930 and the key resistance at 1.0165.

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

Previous Report Weekly ReportSupport1.00250.99500.99300.98650.9805Resistance1.00601.01251.01651.02251.0265RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach 1.0025 targeting 0.9930 and stop loss below 1.0105, might be appropriate.