Morning Report

The pair is facing the resistance level for the bearish intraday channel that organizes the pair's descend since the second top for the breached bearish technical pattern at 1.0330 shown in our previous reports, accompanying this resistancewith Stochastic which in overbought areas. Therefore, yesterdays scenario will remain active, where we see that the expected direction is bearish over an intraday basis; targeting 1.0080 - 1.0000 mainly and requires stability below resistance levels between 1.0250 - 1.0330.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0330.

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

Previous Report Weekly ReportSupport1.02201.01601.01251.00801.0000Resistance1.02501.03301.04151.04401.0480RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0250 targeting 1.0080 and stop loss above 1.0330, might be appropriate.