Morning Report

The pair rebounded to the upside after it failed to breach the mentioned retest level as it is shown on the chart, and SMA 50 is supporting the pair also. The trading aretrapped between retesting the breached rising wedge support at 0.9845 and the broken resistance of the bullish channel at 0.9670. Hence,we need more accurate signs for the trend by monitoring the pair around the mentioned levels.

The trading range for today is among the major support 0.9565 and the major resistance 0.9970

The short term trend is to the downside with a steady level at 1.0665 targeting 0.9000

RecommendationRecommendation based on the charts and explanations above we recommend stay and monitor the pair around the mentioned levels to get an accurate signs.