Morning Report

The daily closing below the earlier discussed cluster resistance areas of 0.8550-0.8500 which represent 38.2% from 0.6520 to 0.9806 and 61.8% from 0.7693 to 0.8906 signaled that additional negative movements could be seen over intraday basis, targeting the coming support levels between 0.8400 and 0.8380. AROON and RSI 14 support this bearish scenario. We recommend; checking the detailed explanations for the awaited movements for the pair via clicking on previous report below.

The trading range for today is among the key support at 0.8380 and key resistance now at 0.8605.

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

Support0.84750.84450.84200.84000.8380Resistance0.85000.85250.85500.85800.8605RecommendationBased on the charts and explanations above our opinion is, selling the pair from 0.8500 targeting 0.8405 and stop loss above 0.8580 might be appropriate.