Morning Report

The pair pushed to the upside achieving yesterday's suggested scenario that has halted around 1.2950 due to the negativity of momentum indicators. We expect the pair to attempt some minor bearish correction before resuming the expected bullish intraday trend in an attempt to attack 61.8% Fibonacci correction at 1.2985 and insure the way towards morebullishness overshort term basis. Keep in mind that, the breach of 1.2775 will weaken chances of achieving more bullish activity.

The trading range for today is among the key support at 1.2775 and the key resistance at 1.3250.

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

Previous Report Weekly ReportSupport1.28501.27751.27051.26801.2610Resistance1.29851.30251.30901.31651.3190RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.2850 targeting 1.2985 and stop loss below 1.2775, might be appropriate.