Morning Report

The pair failed to breach 0.9825 again, and then rebounded to the upside, however the resistance at 0.9910 forms a strong barrier and limits the upside movement. We expect the downside movement to return today, but stability below 0.9990-1.0010 is necessary to keep our expectations valid.

The trading range for today is among the major support at 0.9710 and the major resistance at 1.0125.

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

Previous Report

Weekly Report

Support0.98800.98650.98250.97700.9735
Resistance0.99100.99700.99901.00101.0080
RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9900, targeting 0.9635 and stop loss with 4-hour closing above 0.9990 might be appropriate.