Morning Report

The pair is moving within a narrow range near critical support 0.9700, which is finding a hard time in surpassing it due to the strong positivity appearing through stochastic. Some fluctuation is expected until reaching some negative momentum supporting the expected bearish intraday trend continuing due to trading within bearish price gaps, alongside the negative pressure offered by the MA 50. The awaited targets start around 0.9600 then 0.9500, while requiring trading to stabilize below 0.9865.

The trading range for this week is among the key support at 0.9500 and the key resistance at 0.9865.

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

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9760 targeting 0.9600 and stop loss above 0.9865, might be appropriate.