Morning Report


Trading is still among 0.8905 and 0.9030, which is constructing the sideways trading for the past 13 days, and today we can see some upside bias for the pair in an attempt to consolidate above the 20 MA at 0.8975 to build a price base that is capable of powering the pair to the upside towards; breaching 0.9030 resistance. Continued trading today above 0.8905 will keep the upside potential valid.

The trading range is among the key support at 0.8790 and key resistance now at 0.9205.

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.

RecommendationBased on the charts and explanations above our opinion is, buying the pair above 0.8930 targeting 0.9020 and stop loss below 0.8890 might be appropriate