Morning Report

The tight range is dominating trading for the pair since yesterday, while the 38.2% Fibonacci correction was a strong barrier preventing the pair from further upside movement. Therefore, we hold onto our downside intraday expectations for today targeting 0.9565 which is the gateway to the general downside wave. The suggested scenario requires stability below 0.9695 to prevail.

The trading range for today is among the major support at 0.9400 and the major resistance at 0.9695.

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

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Weekly Report

Support0.95650.95000.94450.94000.9350
Resistance0.96550.96950.97700.98450.9915
RecommendationBased on the charts and explanations above our opinion is opinion is selling the pair with the breach of 0.9565 targeting 0.9400 and stop loss above 0.9655 might be appropriate