Morning report

The strong resistance that the royal pair has found around 61.8% Fibonacci level has forced it to form adark cloud candlestick formation as seen on the secondary image. This declining movement has assisted it to breach the minor uptrend line. Stochastic has overlapped negatively, supporting the bearish overview for today. A break of 0.9130 may accelerate the bearish action towards 0.9070 followed by 0.9030 zones.

Trading range is among the key support at 0.9000 and key resistance now at 0.9420.

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.

RecommendationBased on the charts and explanations above our opinion is, selling the pair from 0.9205 targeting 0.9100 and stop loss above 0.9280 might be appropriate.