Morning Report

The pair stabilized below the descending channel's resistance and approaching the critical support at 0.9525; breaching this level negates the proposed bullish pattern's effect where its neckline areas reside at 0.9710. Stochastic is moving to the downside and accordinglywe expect further intraday bearishness todaytargeting 0.9445 then 0.9350 and require stability below 0.9615.

The trading range for today is among the major support at 0.9350 and the major resistance at 0.9710.

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

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Weekly Report

Support0.95250.95000.94450.94000.9350
Resistance0.95700.96150.96450.97100.9770
RecommendationBased on the charts and explanations above our opinion is selling the pair with hourly closing below 0.9525 targeting 0.9400 and stop loss above 0.9615 might be appropriate today