Morning Report

The royal pair moved mildly downwards but RSI14-presently valued at 34.00- and AC indicators are still showing positive signs on the bigger picture of the weekly chart. Therefore, we still see that the cluster support levels of 0.8500-0.850 could protect and support the pair. The bullishclassical pattern also, shown above is still in favor and thus; possible bullishness could be seen today as far as 0.8480 remains intact.

The trading range for today is among the key support at 0.8400 and key resistance now at 0.8760.

The general trend over short term basis is to the upside, targeting 0.9720 as far as areas of 0.8400 remain intact.

Weekly Report Previous Report

Support0.85800.85500.85000.84800.8420Resistance0.86300.86600.87000.87200.8760RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8570 targeting 0.8700 and stop loss below 0.8480 might be appropriate