Morning Report

The pair was able to build a support base at 61.8% correction previously breached at 0.9770, providing further support for resuming the intraday upside move today affected by trading within the minor ascending channel and the support from SMA 50. Targets reside around 0.9970 and require stability above 0.9730 to prevail.

The trading range for today is among the major support at 0.9625 and the major resistance at 0.9970.

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

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 0.9770 targeting 0.9970 and stop loss below 0.9680 might be appropriate