Morning Report

The pair retested the previously breached pivotal support level around 1.3180, accompanied by stochastic nearing from overbought areas; therefore, making us expect a bullish intraday direction that initially targets 1.3000 - 1.2965, but requires the four hour closing to remain below 1.3180 to prevail.

The trading range for today is among the key support at 1.2965 and the key resistance at 1.3255

The short term trend is to the upside as far as 1.2795 remains intact with targets at 1.5135.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.3180 targeting 1.3055 and stop loss above 1.3255, might be appropriate.