Morning Report

The pair found support at 50% Fibonacci correction around 0.9710 and pressured the pair to the upside, also supported by the positivity on Stochastic. Therefore, we might see a slight upside move today to test 0.9770 areas breached yesterday before resuming the intraday downside move expected for today and mainly targeting 0.9600 which is the gateway to the breached main downside move. Breaching 0.9810 might delay the expected targets.

The trading range for today is among the major support at 0.9600 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

Support0.97100.96700.96000.95650.9500
Resistance0.97700.98100.98450.99150.9970
RecommendationBased on the charts and explanations above our opinion is opinion is selling the pair around 0.9770 targeting 0.9600 and stop loss above 0.9845 might be appropriate