Morning Report

The pair reached the support for the ascending channel shown above, yes still caught between the critical levels mentioned yesterday at 0.9710 support and 0.9845 resistance. Therefore, the intraday move today depends on the price behavior around those levels. Breaching 0.9845 will open the way towards 1.0000 while breaching 0.9710 will drive the pair towards 0.9645 in an attempt to return to the breached downside trend that was temporarily stopped for the upside correction.

The trading range for today is among the major support at 0.9565 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.

Previous Report

Weekly Report

Support0.97100.96450.95960.95000.9445
Resistance0.97700.98450.99150.99701.0000
RecommendationBased on the charts and explanations above our opinion is selling the pair with hourly closing below 0.9710 targeting 0.9565 and stop loss above 0.9800 OR buy the pair with hourly closing above 0.9845 targeting 0.9970 and stop loss below 0.9770 might be appropriate