Morning Report

The pair due to the positivity on momentum indicators has pushed towards achieving a weak breach of pivotal resistance 1.0340, while the pair clearly lost bullish momentum on the four-hour chart. This current negative momentum makes us expect the pair to continue within the bearish trend, and then resume the expected bearish intraday direction that will start its key targets at 1.0175. Keep in mind the importance of stability below 1.0405 to achieve this suggested scenario.

The trading range for today is among the key support at 1.0175 and the key resistance at 1.0445.

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

Previous Report Weekly ReportSupport1.03251.02951.02601.02101.0175Resistance1.04051.04451.04701.05251.0600RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.0325 targeting 1.0210 and stop loss above 1.0405, might be appropriate.