Midday Report

The pair continues the attempts to breach the critical support at 0.9565, while yesterday's fluctuations unloaded the upside momentum on Stochastic as shown on the chart. This fact in addition to the resistance provided by MA 50 supportour expectations for an intraday downside movement, which requires a clear breach of 0.9565 and then 0.9530, and consolidation below 0.9660.

The trading range for today is among the major support at 0.9400 and the major resistance at 0.9770.

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

Weekly Report

Previous Report

Support0.95650.95300.95000.94450.9400
Resistance0.96250.96600.97000.97700.9845
RecommendationBased on the charts and explanations above our opinion is selling the pair with hourly closing below 0.9565 targeting 0.9400 and stop loss above 0.9665 might be appropriate today