Morning Report

The pairapproached the main target at 1.3525 to return and fluctuate around MA 50. Stochastic entered overbought areas; therefore we expect a bearish intraday direction that targets 1.3525 and then will attempt to breach it and head towards 1.3430. It is vital that trading remain below 1.3685 to maintain chances of achieving this suggested scenario.

The trading range for today is among the key support at 1.3430 and the key resistance at 1.3705.

The general trend is to the upside if we do not witness a daily close below 1.3485 with targets at 1.5150.

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More Technical Analysis

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.3610 targeting 1.3525 and stop loss above 1.3685, might be appropriate.