The pair declined again to currently trade below the exponential moving averages, but also was able to remain stable above 1.0050. Stochastic is positively biased, yet consolidation above 1.0185 is required to confirm this positivity, while a breach of 0.9970 could negate any intraday upside move. Therefore, we remain neutral in our morning report, awaiting more technical signs before our midday report.
The trading range for today is among the major support at 0.9905 and the major resistance at 1.0360.
The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.
|Recommendation||Based on the charts and explanations above, we remain neutral awaiting more confirmations|