Morning Report

Negative pressures continue to affect the pair, approaching the critical level around 0.9445-00. Stochastic is within oversold areas, which supports the mentioned support. Therefore, we expect an upside move for today, but a breach of 0.9400 will negate this intraday move. Trading above 0.9545 will prove that the downside trend is minor to regain momentum.

The trading range for today is among the major support at 0.9305 and the major resistance at 0.9680.

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

Previous Report

Weekly Report

Support0.94400.94000.93500.93050.9285
Resistance0.94850.95450.96000.96250.9680
RecommendationBased on the charts and explanations above our opinion is buying the pair around 0.9445 targeting 0.9680 and stop loss below 0.9400 might be appropriate