Morning Report

The pair declined sharply yesterday, but still trading above 0.9400-45. The positive signs on Stochastic are weakening, and RSI trending lower; also we can see that yesterday's closing was below the downside trend's resistance at 0.9540. The technical conflict will control the pair's movement as long as it is stable between 0.9400 and 0.9540; consolidation above 0.9540 shall return the positive expectations while stability below 0.9400 could eliminate the positive intraday outlook.

The trading range for today is among the major support at 0.9305 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.

Previous Report

Weekly Report

Support0.94850.94400.94000.93500.9305
Resistance0.95450.96000.96250.96800.9700
RecommendationBased on the charts and explanations above our opinion is buying the pair with 4-hour closing above 0.9545 targeting 0.9770 and stop loss below 0.9400 might be appropriate