Morning Report

The pair managed to achieve the awaited target at 1.5075 and validate the gradual ascend towards 1.5160 once again. We expect some fluctuation near the mentioned level followed by resuming the bearish direction today; targeting mainly 1.4970.

The trading range for today is among the key support at 1.4970 and the key resistance at 1.5245.

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

Previous Report Weekly ReportSupport1.50751.50301.50001.49701.4925Resistance1.51601.52451.52701.53201.5350RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.5160 targeting 1.5075 and stop loss above 1.5245, might be appropriate.