Morning Report

The royal pair is still supported above 0.8420 zones as seen on the provided daily chart, where we still think that it is building a potential bullish classical pattern. Stochastic and AC are still giving positive signs. Thus; we believe that the bullishness might control the trend over intraday basis. Areas of 0.8480 should be breached to confirm theses anticipations. We will reconsider our outlook if a daily closing occurred below 0.8380 zones.

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 0.8400-0.8380 remain intact.

Weekly Report Previous Report

Support0.84500.84200.84000.83800.8360Resistance0.85000.85500.85850.86050.8635RecommendationBased on the charts and explanations above our opinion is, buying the pair with a breakout above 0.8480 targeting 0.8605 and stop loss below 0.8380 might be appropriate.