Midday Report

The royal pair is trapped between 0.9015 zones and 0.8980. Thus; we will keep our outlook -unchanged - to the upside, based on the cup with handle pattern, which is targeting 0.9070 zones. An opportunity for a slight correction around 0.8965 still exists before resuming the projected scenario.

The trading range is among the key support at 0.8800 and key resistance now at 0.9130.

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.