Morning Report

The pair strongly pushed to the upside after touching levels around 1.0250, but as we notice through the image above, the pair pushed to stop at 1.0380 that represents the previously breached support that has turned into resistance. Stabilizing below this level will maintain chances of the bearish trend scenario prevailing shown yesterday intact; therefore, we can expect a bearish intraday direction that will start its technical targets at 1.0280 then 1.0180.

The trading range for today is among the key support at 1.0180 and the key resistance at 1.0440.

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

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Weekly Report

Support1.03401.02801.02101.01801.0135Resistance1.03801.04401.04951.05201.0580RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0380 targeting 1.0280 and stop loss above 1.0440, might be appropriate.