Morning Report

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Narrow trading continues to dominate the price action for the royal pair since yesterday, maintaining stability above the support of the yellow shaded range at 0.8525. Stochastic is up-trending, supporting a bullish bias for today targeting a retest of the breached support near 0.8670 now, taking into consideration that breaching 0.8525 will turn the intraday outlook into bearish.

The trading range for the day may be among the 0.8415 support and 0.8720 resistance.

The short term trend is to the upside targeting 1.0370 so long as 0.8165 remain intact

Previous Report

Weekly Report

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Support0.85250.85000.84600.84150.8385
Resistance0.85950.86650.87200.88050.8845
RecommendationBased on the charts and explanations above we recommend buying the pair around 0.8525 targeting 0.8665 and 0.8780, stop loss below 0.8460 may be appropriate.