Morning Report

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Having a wider view of the daily charts,we observe that the pair goes back to trade within the main ascending channel, however the effect of the downside correctional channel is still controlling the pair's movement, where it's still trading below the resistance of the channel at 0.8760. Accordingly, the key levels are the 0.8760 resistance as breaching it will signal resumption of the main upside move, on the other hand, breaching 0.8615 will open the door toward 0.0420.

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.

Previous Report

Weekly Report

Support0.86150.85300.85000.84450.8400
Resistance0.87250.87600.88450.88850.8925
RecommendationBased on the charts and explanations above we recommend staying aside awaiting more confirmations for the next move.