Midday Report

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It seems that the royal pair insisted on reaching 161.8% Fibonacci level of the proposed BC leg around 0.8925, where the potential reversal zones should be completed for the bullish harmonic AB=CD pattern. Thereby, we keep our bullish overview for the rest of the day. RSI and Stochastic support this anticipated reversal.

The trading range is among the key support at 0.8820 and key resistance now at 0.9260.

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.

Check our morning report here

Support0.89250.89050.88650.88200.88
Resistance0.90000.90300.90700.91150.9145
RecommendationOur morning expectations remain valid