Morning Report

The pair attempted a bullish correction yesterday and halted at 1.2400 - 1.2410, where it returned to fluctuate near key support 1.2310. The expected direction in overall for today bearish over an intraday basis, where it starts with the breach of the mentioned support leveland heads towards 1.2190 initially. It is vital that 1.2410 remain intact to maintain chances of achieving these expectations.

The trading range for today is among the key support at 1.2190 and the key resistance at 1.2440.

The short term trend is to the downside as far as 1.3770 remains intact with targets at 1.1700.

Previous Report Weekly ReportSupport1.23101.22351.21901.21601.2125Resistance1.23851.24101.24401.25001.2575RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.2310 targeting 1.2190 and stop loss above 1.2400, might be appropriate.