Morning Report

The pair continues to fluctuate around the most sensitive level over short term basis which declined towards 1.3195. Positive signs are seen on Stochastic supporting the move within the intraday ascending channel and accordingly we expect an intraday upside move today targeting 1.3350. Breaching the support areas among 1.3195-1.3165 fails the expected bullish intraday scenario.

The trading range for today is among the major support at 1.3090 and the major resistance at 1.3350.

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

Previous Report

Weekly ReportSupport1.31951.31651.30901.30351.2960Resistance1.32651.33001.33501.34451.3480RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.3195 targeting 1.3350 and stop loss below 1.3090, might be appropriate