Morning Report

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The pair touched the previously breached support of the short term ascending channel which turned into resistance at 0.8610. In general, the downside move within the main descending channel is still possible as shown on image, targeting a breach of the latest bottom at 0.8531 followed by the support of the descending channel at 0.8445. Momentum indicators are currently hindering the expected downside move.

The expected trading range for the day is among the key support at 0.8445 and the key resistance at 0.8725.

The short term trend is to the upside so far as 0.8165 remains intact targeting 1.0370.

Morning Report

Weekly Report

Support0.85300.85000.84450.84000.8300
Resistance0.86100.86600.86900.87250.8790
RecommendationBased on the charts and explanations above we recommend selling the pair around 0.8610 targeting 0.8445 and stop loss with hourly closing above 0.8690 may be appropriate