Morning Report

The pair is trading sideways around the critical resistance at 1.3715, and this sideways trading drove the pair out of the intraday bullishness as the pair currently trades below it. Momentum indicators are negatively pressuring the pair which is restricting yesterday's suggested scenario. On the other hand, the SMA 50 continues to provide intraday support for the upside wave. This contradiction seen forces us to observe the pair closely today especially around the critical areas among 1.3760 resistance and 1.3635 support for clear direction signals.

The trading range for today is among the major support at 1.3540 and the major resistance at 1.3900.

The short term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

RecommendationBased on the charts and explanations above we recommend observing the pair around the sensitive areas mentioned to further confirm the coming direction