Morning Report

The main support maintained its stance in front of the pair's attempts to push upwards to retest the previously broken neckline that has turned into resistance, where it currently ascended towards 1.2390.Stochastic isattempting to shownegative signs that encourage us to expect the bearish trend to be resumed for today; the target for key support is currently descended towards 1.2170. This scenario requires resistance between 1.2390 and 1.2420 to maintain its stance.

The trading range for today is among the key support at 1.2170 and the key resistance at 1.2420.

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

Previous Report Weekly ReportSupport1.22901.22551.21701.21401.2125Resistance1.23901.24201.24701.25451.2615RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.2290 targeting 1.2170 and stop loss above 1.2390, might be appropriate.