Midday report

The royal pair is preparing for the awaited breakout, influenced negatively by the strength of the intraday pivotal resistance of 0.9180 zones. Based on the continuous bearish sign that’s appearing on AC, we still keep our overview to the downside while Keltner channel is tightening slightly, claiming that, a price explosion is under preparation for the time being. Note that, volume is needed to activate the scenario.

Trading range is among the key support at 0.8960 and key resistance now at 0.9370.

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.