Morning Report

After the mixed trades the pair had done yesterday, it managed to stabilize today at the suggested bullish technical pattern's neckline at 1.0550. The pair now is attacking this level, although the negativity of momentum indicators could impede building a base above the neckline, an essential factor to pave the way towards achieving the bullish intraday direction; the first main target is at 1.0675. Keep in mind that achieving stability above 1.0465 will maintain chances of the suggested scenario being achieved intact.

The trading range for today is among the key support at 1.0465 and the key resistance at 1.0675.

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

Previous Report Weekly ReportSupport1.05501.05301.04651.03901.0335Resistance1.05951.06751.07451.08201.0895RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0550 targeting 1.0675 and stop loss below 1.0465, might be appropriate.