Morning Report

The pair stabilized with correction levels between 23.6% and 38.2% Fibonacci, in addition to MA 100 standing as strong support in front of the pair's attempts to bearishly correct. Meanwhile, the pair managed to push upwards to breach minor pivotal resistance at 1.0660 that will pave the way towards achieving the bullish trend over an intraday basis. The negative momentum we can expect to rid of them when thebroken resistance is retested. Technical targets expected for today start at 1.0745 then 1.0795. It is vital that 1.0565 stabilizes to achieve expectations.

The trading range for today is among the key support at 1.0565 and the key resistance at 1.0865.

The short term trend is to the upside as far as 0.9925 remains intact with targets at 1.1485.

Previous Report Weekly ReportSupport1.06601.06101.05651.05351.0500Resistance1.07451.07851.08651.09001.0960RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0660 targeting 1.0795 and stop loss below 1.0565, might be appropriate.