Morning Report

The pair maintained stability below the breached minor support level that has presently turned into resistance rising towards 0.9755, and accordingly we still expect the intraday bearishness to prevail today supported by the SMA 50 with targets at 0.9600 and 0.9550. Our expectations require stability below 0.9785 to prevail.

The trading range for today is among the key support at 0.9550 and the key resistance at 0.9840.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9740 targeting 0.9600 and stop loss above 0.9840, might be appropriate.