Morning Report

The pair is fluctuating once again close to the support level 1.4810, while Stochastic inches towards overbought areas. Yesterday's suggested scenario will remain intact as the daily closing remains below 1.4960; therefore we expect a bearish intraday trend that targets 1.4650 mainly and requires the four hour closing to remain below 1.4960 for expectations to prevail.

The trading range for today is among the key support at 1.4530 and the key resistance at 1.4960.

The short term trend is to the downside as far as 1.5590 remains intact with targets at 1.4000.

Previous Report Weekly ReportSupport1.48101.47551.46901.46501.4615Resistance1.48651.49301.49601.50351.5075RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.4810 targeting 1.4650 and stop loss above 1.4930, might be appropriate.