Morning Report

The pair is trading at the mentioned retest areas of 1.4150 while the positivity on Stochastic continues to push the pair higher. This upside move attempts to breach the descending channel organizing the intraday bearishness. We remain neutral for today observing the pair around the mentioned areas, as the confirmed breach signals that the downside correction settled for 38.2% of the bullish wave and negates the current bearish pattern.

The trading range for today is among the major support at 1.3910 and the major resistance at 1.4360.

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

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RecommendationBased on the charts and explanations above we recommend observing trading today awaiting more confirmations