Morning Report

Resistance levels shown yesterday halted at 1.5430, a strong barrier in front of the pair's attempts at continuing the bullish direction. The bullish technical pattern mentioned yesterday will be completed and awaits a clear breach of resistance, which will pave the way to targeting 1.5555 then 1.5605. This positivescenario requires the four hour closing to remain above 1.5330.

The trading range for today is among the key support at 1.5190 and the key resistance at 1.5605.

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

Previous Report Weekly ReportSupport1.53801.53301.52801.52451.5190Resistance1.54301.54551.55001.55551.5605RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.5430 targeting 1.5555 and stop loss below 1.5330, might be appropriate.