Morning Report

The pair found difficulty in surpassing the pivotal resistance of 1.3365 due to the negativity of Stochastic, where this fluctuation may remain for some time. Signs of a bullish technical pattern are appearing as its neckline is around pivotal 1.3365, alongside support offered by SMA 50. The expected direction is bullish over an intraday basis that requires two factors to prevail; first, a clear breach of 1.3365 and the second is trading above 1.3245.

The trading range for today is among the key support at 1.3245 and the key resistance at 1.3570

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 buying with the hourly closing above 1.3365 targeting 1.3570 and stop loss below 1.3245, might be appropriate.