Morning Report

The pair is still struggling to hit the resistance line of the descending channel and it couldn't maintain levels above it yesterday, but the continuous bullish signs appearing on MACD and AC indicators are still supporting the classical overview of the double bottom formation. Thereby, we hold onto our positive anticipations over intraday basis.

The trading range for today is among the key support at 0.8420 and key resistance now at 0.8660.

The general trend over short term basis is to the upside, targeting 0.9720 as far as areas of 0.8400-0.8380 remain intact.

Weekly Report Previous Report

Support0.85000.84800.84200.84000.8380Resistance0.85500.86050.86350.87000.8720RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8530 targeting 0.8700 and stop loss below 0.8420 might be appropriate.