Morning Report

The pair is trading within the sideways range shadowed in yellow above, while approaching its resistance at 0.9575 accompanied by Stochastic moving towards overbought areas. Based on that, we expect the pair to resume the intraday bearishness today pressured by the SMA 50 and trading within the main descending channel. Targets start at 0.9400 and 0.9350 while the breach of 0.9575 will delay those targets.

The trading range for today is among the major support at 0.9270 and the major resistance at 0.9575.

The short term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Previous Report

Weekly Report

Support0.94500.94000.93500.93000.9270
Resistance0.95750.96150.96500.97000.9795
RecommendationBased on the charts and explanations above our opinion is selling the pair with hourly closing below 0.9450 targeting 0.9270 and stop loss above 0.9575 might be appropriate