Morning Report

The pair is trading narrowly and stable between 23.6% Fibonacci correction at 0.9865 and the descending main resistance at 0.9910, which is today at 0.9895. The RSI and Stochastic attempt to turn positive, while the pair is currently stable above the exponential moving averages 20 and 50 (EMA 20 & 50). We will stay neutral today, while a breach of 0.9910 suggests a possible downside move, but a breach of 0.9825 should confirm the bearishness.

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

Support0.98650.98250.97700.97350.9700
Resistance0.98950.99100.99701.00101.0125
RecommendationBased on the charts and explanations above we remain neutral awaiting more confirmations