Morning Report

Resistance level of 1.5475 is still a strong barrier in front of the pair's attempts to ascend. Through the image above, we find that the pair has stabilized above the breached pivotal resistance that has currently turned into support at 1.5410, supported byStochastic which isapproaching oversold areas; thus, encouraging us to expect more bullish intraday movement where its key targets start at 1.5555. This scenario requires 1.5325 to remain intact.

The trading range for today is among the key support at 1.5325 and the key resistance at 1.5555.

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

Previous Weekly Weekly ReportSupport1.54101.53651.53251.52801.5255Resistance1.54751.55001.55551.56051.5665RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.5410 targeting 1.5555 and stop loss below 1.5325, might be appropriate.