Morning Report

The pair is still struggling around the neckline of the suggested bearish classical pattern as seen on the provided four-hour chart. We need a decisive breakout, accompanied by closing below 0.8335 to be confirmed that the pattern is activated. Stochastic might assist the royal pair to breach the aforesaid neckline. Technical targets reside around 0.8240 zones. From here, we keep our potential negative scenario intact over intraday basis.

The trading range for today is among the key support at 0.8180 and key resistance now at 0.8500.

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

Support0.83350.82950.82550.82050.8180Resistance0.83600.84000.84200.84600.8500RecommendationBased on the charts and explanations above our opinion is, selling the pair with a breakout below 0.8335 targeting 0.8240 and stop loss above 0.8410 might be appropriate.