Morning Report

The pair resumed the bearish trend in order to build a base below pivotal support levels between 0.9920 - 0.9900; thus, we expect a path to currently be paved towards resuming more bearish intraday movement, while initially targeting levels 0.9815 then 0.9700. Some fluctuation may be witnessed due to the positive effect on momentum indicators, but keep in mind the importance of building a base below 1.0000 could maintain chances of a suggested bearish trend valid.

The trading range for today is among the key support at 0.9700 and the key resistance at 1.0000.

The short term trend is to the upside as far as 1.0665 remains intact with targets at 0.9000.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9920 targeting 0.9815 and stop loss above 1.0000, might be appropriate.