Morning Report

The pair is currently fluctuating around pivotal resistance 1.5330 that holds the keys to insuring the upcoming intraday direction.Stochastic is showing negative signs that will impede insuring the breach of the mentioned level; however, in overall we expect a bullish intraday trend for today that requires stability above 1.5330 and then head towards 1.5500 mainly. The breach of 1.5245 will weaken chances of achieving these expectations.

The trading range for today is among the key support at 1.5190 and the key resistance at 1.5500.

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

Previous Report Weekly ReportSupport1.52801.52451.51901.51251.5075Resistance1.53301.53801.54551.55001.5555RecommendationBased on the charts and explanations above our opinion is buying the pair and stabilizing above 1.5330 targeting 1.5500 and stop loss below 1.5245, might be appropriate.