Morning Report

The pair maintains stability below critical support around 0.9665, which supports continuing the expected bearish intraday trend. This descend supports trading within the key downside channel, alongside the negative pressure offered by SMA; therefore, awaited targets start around 0.9500 then 0.9400 pointing out that the breach of 0.9665 could postpone resuming these expectations.

The trading range for today is among the key support at 0.9400 and the key resistance at 0.9760.

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 0.9665 targeting 0.9500 and stop loss above 0.9760, might be appropriate.