Morning Report

The pair managed to breach resistance linefor the descending channel that has currently turned into support at 1.3355. We expect some fluctuation to rid of the negative signs evident on momentum indicators, before resuming the expected bullish intraday direction that targets levels 1.3445 then 1.3495. It is vital that 1.3290 remain intact so these expectations may prevail.

The trading range for today is among the key support at 1.3290 and the key resistance at 1.3495.

The short term trend is to the downside as far as 1.4410 remains intact with targets at 1.2450.

Previous Weekly Weekly ReportSupport1.33551.32901.32251.31901.3115Resistance1.34001.34451.34951.35701.3635RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.3355 targeting 1.3445 and stop loss below 1.3290, might be appropriate.