Morning Report

The pair faces 0.9800 with downside bias supported by Stochastic, and over four-hour basis we can see the upside move that the pair is moving within, where it extends between the resistance and the support. Currently, the pair attempts to stabilize below the MA 50 at the mentioned level and represents the 23.6% correction. Stochastic is within oversold areas, and those conflicting signals make us remain neutral to observe the reaction around the mentioned areas.

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.

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RecommendationBased on the charts and explanations above we recommend observing trading today awaiting more confirmations