Morning Report

The pair succeeded in achieving yesterday's suggested scenario as it strongly pushed to the upside after thepivotal support 1.0470 maintains its stance. The pair is currently facing horizontal resistance at 1.0680, accompanied by negative signs appearing momentum indicators; thus forcing the pair to attempt some bearish correction before heading towards achieving more expected bullish intraday movement. The bullish technical pattern appearing through the four-hour chart is currently being formed, supported by achieving a short term ascend.

The trading range for today is among the key support at 1.0520 and the key resistance at 1.0825.

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

Previous Report Weekly ReportSupport1.05901.05201.04701.04101.0350Resistance1.06801.07401.08251.08951.0960RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.0595 targeting 1.0680 and stop loss below 1.0510, might be appropriate.