Morning Report

The pair succeeded in breaching 0.9710 and is stabilizing below it, activating yesterday's scenario. Therefore, we expect further intraday bearishness today. Momentum indicators are positive and might push the pair to retest the mentioned areas before moving towards targets mainly from 0.9565. Stability below 0.9755-0.9770 is required for our expectations to prevail.

The trading range for today is among the major support at 0.9565 and the major resistance at 0.9845.

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

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Weekly Report

Support
Resistance
RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9710 targeting 0.9565 and stop loss above 0.9800 might be appropriate