Morning Report

The pair is trading bearishly, but still above the bottom of the suggested D point of the bullish AB=CD pattern. Trading above 0.9475 with four hour closing should support the possibility of an upside wave, while a breach of 0.9400 and consolidation below it, should weaken the intraday downside movement.

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.

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Weekly Report

Support0.94000.93750.93500.93050.9285
Resistance0.94750.95450.96000.96250.9680
RecommendationBased on the charts and explanations above our opinion is buying the pair with 4-hour closing above 0.9475 targeting 0.9680 and stop loss below 0.9400 might be appropriate