Midday Report

The pair inclined, forming a long white candlestick pattern as seen on the four-hour chart, approaching the first technical target of 0.9205. Now, a slight correction is underway before resuming the intraday bullishness, supported by the positive signs on Stochastic, A.C and MACD. A breakout above 0.9180 will assist the pair in reaching the key resistance level of 0.9260.

The trading range is among the key support at 0.8930 and key resistance now at 0.9340.

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 expectations remain valid