Morning Report

The pair retests the breached support which turns into resistance now around 0.9900-0.9930. Stability below this area could push the pair further to the downside, as it may be heading to form a possible harmonic pattern that completes at 0.9840 or 0.9785. Steady trading below 1.000 is required for the negative expectations to remain valid.

The trading range for today is expected among the key support at 0.9730 and resistance at 1.0030.

The short term trend is to the upside targeting 1.0650 with steady weekly closing above 0.9900.

Previous Report

Weekly Report

Support0.99000.98650.98400.98150.9785
Resistance0.99300.99601.00001.00301.0070
RecommendationBased on the charts and explanations above, our opinion is selling the pair around 0.9930 , and take profit in stages at (0.9840 and 0.9785) and stop loss above 1.0000 might be appropriate