Morning Report

The pair touched the key downside channel's resistance that descended currently 0.9825, where we note the strength supporting SMA. Hence, chances of trading within the downside channel remain valid as we await an intraday descend expected to initially target 0.9700 then 0.9600. Note that the breach of 0.9825 and stabilize above it, which paves the way in front of a rebound - which is temporary - to the upside intraday.

The trading range for today is among the key support at 0.9600 and the key resistance at 0.9960.

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

Previous Report

Weekly Report

Support0.98050.97400.97000.96650.9615
Resistance0.98250.99150.99601.00001.0055
RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9825 targeting 0.9615 and stop loss above 0.9915, might be appropriate.