Midday report

Supported above 0.9070 along with hourly positive divergence as we mentioned in our technical messages, the royal pair proves thatthe strength of the bullish trend line of the momentum may help it to declare that the positive pressure of the major upside rally inside the recently created bullish channel of the new impulsive wave is to continue. The areas between 0.9030 and 0.9070 should hold for the rest of the day to confirm the scenario.

Trading range is among the key support at 0.8960 and key resistance now at 0.9320.

The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

RecommendationOur morning expectation is still valid.