Morning Report


The pair surpassed the previously breached ascending support and discussed in our previous reports, and the daily closing above the support is a sign that more bullishness may be on the horizon targeting the resistance of the descending channel shown on image. however, this incline may face the previously breached technical pattern support at 0.8670. Therefore, we will remain neutral and monitor trading around the 0.8670 and 0.8615 sensitive levels for more confirmations.

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.

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RecommendationBased on the charts and explanations above we recommend staying aside awaiting and observe trading around the mentioned sensitive levels for more confirmations