Morning Report

The pair continues to bullishly correct since yesterday and therefore the stochastic is gaining bearish momentum, which will argue us to keep our yesterday's expectations and point to more expected bearish intraday; where main targets start at 1.5825 then 1.5700. Keep in mind the importance of 1.6075 remaining intact to insure achieving these expectations.

The trading range for today is among the key support at 1.5700 and the key resistance at 1.6075.

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.

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RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.6010 targeting 1.5920 and stop loss above 1.6075, might be appropriate.