Morning Report

The pair was not able to achieve a daily closing below 1.3485, where it currently trades within a sideway range between 61.8% Fibonacci correction and 38.2%. We expect more possible bearish intraday direction that initially targets 1.3445 and requires trading to remain below 1.3655, where the bearish direction can be accelerated oncea breakout occurs below1.3485 zones.

The trading range for today is among the key support at 1.3400 and the key resistance at 1.3655.

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

Morning Report Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.3575 targeting 1.3485 and stop loss above 1.3655, might be appropriate.