Midday Report

The pair is reaching gradually the pivotal support at 0.9690 which represents the turning point towards the breached downside trend line to achieve some upside correction. Stochastic is still declining, therefore, our morning expectations still valid if the pair stabilizes between 0.9805 and 0.9845.

Trading range for today is among the major support 0.9500 and the major resistance 0.9854.

The short term trend is to the downside with a stability of 1.0665 targeting 0.9000.

Previous Report

RecommendationBased on the charts and explanations above we recommend selling the pair with hourly closing below 0.9690 targeting 0.9565 and stop losses above 0.9770 might be appropriate for today.