Morning Report

The pair touched resistance for the minor channel and reversed to the downside naturally trading within this channel; whereas the stochastic is descending and nearing oversold areas. The pair might build a base on 1.0435 to gain bullish momentum to it may resume the bullish intraday trend; targets are at 1.0665. It is vital that 1.0335 remain intact to insure achieving thes expectations.

The trading range for today is among the key support at 1.0335 and the key resistance at 1.0665.

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

Previous Report Weekly ReportSupport1.04351.03701.03351.02951.0240Resistance1.04801.05501.06001.06651.0700RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.1435 targeting 1.0550 and stop loss below 1.0335, might be appropriate.