Morning Report

The royal pair stabilized above the initial resistance levels of 0.8305-turned into support-, while all indicators gave us positive signs. Thereby, more bullishness might come over intraday basis, supported by the suggested Elliott sequence. Carefully note that, a break of 0.8355 will be able to accelerate the proposed corrective scenario.

The trading range for today is among the key support at 0.8210 and key resistance now at 0.8480.

The general trend over short term basis is to the downside, targeting 0.7780 as far as areas of 0.8965 remain intact.

Weekly Report Previous Report

Support0.83050.82950.82450.82100.8180Resistance0.83550.83800.84000.84200.8460RecommendationBased on the charts and explanations above our opinion is, buying the pair around 0.8335 targeting 0.8460 and stop loss below 0.8245 might be appropriate.