Midday Report

The royal pair is currently traded above the pivotal resistance areas of 0.8835, accompanied by a clear long white candlestick as seen on the above four-hour chart. The continuation pattern -cup with handle- as we discussed in our morning report, affected the pair positively. We still think that additional bullishness is to come over the intraday basis, targeting 0.8905 zones, followed by 0.8960.

The trading range is among the key support at 0.8615 and key resistance now at 0.9000.

The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

RecommendationOur morning expectation is still valid