Morning Report

The pair returned to retest yesterday's breached pivotal support at 1.4990, after levels halted at 1.4930 in front of achieving the awaited targets. We see more expected bearish intraday direction that will start its targets at 1.4850 and requires trading to remain below 1.5095 to achieve it.

The trading range for today is among the key support at 1.4795 and the key resistance at 1.5195.

The general trend is to the upside as far as 1.4850 remains intact with targets at 1.7000.

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RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.4990 targeting 1.4850 and stop loss above 1.5095, might be appropriate.