Morning Report

The royal pair inclined sharply yesterday, affected by the solid support that it found around the lower line of the descending channel and we still see chance for achieving further bullishness over intraday basisdepending on the positive daily candlestick structure. RSI 14 is currently valued at 30, confirming our overview. A break of 0.8295 could accelerate the move towards 0.8380 -0.8400 zones.

The trading range for today is among the key support at 0.8100 and key resistance now at 0.8400.

The general trend over short term basis is to the downside, targeting 0.7780 as far as areas of0.8965remain intact.

Weekly Report Previous Report

Support0.82300.82000.81800.81400.8100Resistance0.82550.82750.83150.83550.8380RecommendationBased on the charts and explanations above our opinion is, buying the pair around 0.8230 targeting 0.8355 and stop loss below 0.8140 might be appropriate.