Morning Report

The pair found support at 1.4610 that managed to push the pair higher towards the ascending channel’s resistance at 1.4730. The upside bias is clear and for that we expect an upside direction over intraday basis targeting the breach for the mentioned resistance and then heading higher towards 1.4900, a slight downside correction is possible that might take the pair to consolidate upon 1.4680 ahead of starting the upside expected move for today. For the expected upside move to prevail 1.4610 needs to remain intact.

The trading range for today is among the key support at 1.4330 and the key resistance at 1.4985.

The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000.

RecommendationBased on the charts and explanations above, our opinion is buying the pair from 1.4680 to 1.4900 and stop loss below 1.4610 might be appropriate