Morning Report

With the breach of the psychological barrier at 1.3000, the pair could extend the downside movement towards the main support of the descending channel. Areas between 1.2875 and 1.2790 are reachable now, where these levels reside the descending channel's main support as shown above on the chart. The RSI is within oversold areas, while Stochastic is turning positive, but consolidation below 1.3000 supports our bearish outlook strongly.

The trading range for today is among the major support at 1.2790 and the major resistance at 1.3160.

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

**New York Candlesticks**

Previous Report

Weekly Report

Support1.29551.28751.28451.27901.2710
Resistance1.30001.30451.30801.31201.3160
RecommendationBased on the charts and explanations above, our opinion is selling the pair below 1.3000, and take profit in stages at (1.2875 and 1.2790) and stop loss with 4-hour closing above 1.3080 might be appropriate