Morning Report

The pair has reversed from 2 month low after achieving an attempt to take the psychological level of 1.3000 yesterday as seen on the provided daily chart. But, the secondary image shows that the closing was achieved as well below Ribbons lines -EMA10 to 80- thus, we may witness another technical attempt on the aforesaid support level over intraday basis. Additionally, Stochastic remains negative supporting bears.

The trading range for today is among key support at 1.2930 and key resistance at 1.3290.

The general trend over short term basis is to the downsidetargeting 1.1865 as far as areas of 1.3550 areas remain intact.

Previous Report

Weekly Report

Support1.30801.30251.30051.29751.2930
Resistance1.31401.31801.32001.32501.3290
RecommendationBased on the charts and explanations above our opinion is, selling the pair below 1.3080 targeting 1.2975 and stop loss above 1.3235 might be appropriate.