Morning Report

The pair is facing resistance which is represented in the MA 50, in addition to the neckline that is showing a bullish technical pattern at 1.3655. The positive sign thatis appearingon Stochastic makes us expect a bullish intraday direction; targeting 1.3800 initially and requires 1.3525 to remain intact to remain intact to maintain chances of achieving it.

The trading range for today is among the key support at 1.3485 and the key resistance at 1.3800.

The general trend is to the upside if we do not witness a daily close below 1.3485 with targets at 1.6000.

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RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.3655 targeting 1.3800 and stop loss below 1.3560, might be appropriate.