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.

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Weekly Report

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.