Morning Report

The pair continued its upside rush as it breach 1.0500 but is finding a hard time surpassing 76.4% Fibonacci until now. Some fluctuation and volatility are expected due to clear negative momentum, where we expect the pair to reach the support for the main bullish channel again around 1.0500 - 1.0510 before continuing the expected bullish intraday direction mainlytargeting 1.0675. Keep in mind that the breach of support area among 1.0500 - 1.0470 will weaken the expected bullishness.

The trading range for today is among the key support at 1.0410 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 ReportSupport1.05001.04701.04101.03501.0330Resistance1.05501.05851.06301.06751.0740RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.0505 targeting 1.0630 and stop loss below 1.0410, might be appropriate.