Morning Report

The pair breached the minor support mentioned our midday report yesterday that has turned into resistance around 0.9760, while this breach is considered an additional negative factor that is in favor the expected bearish intraday trend will prevail and target initially levels around 0.9600. Stability below 0.9815 is vital factors in order for chances of resuming bearish expectations.

The trading range for today is among the key support at 0.9550 and the key resistance at 0.9915.

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 0.9840, might be appropriate.