Morning Report

The pair succeeded in achieving yesterday's suggested scenario, where the awaited key targets that it is surpassing to target levels below 1.4600. We will not rule out witnessing some minor bullish correction, but in overall we await a bearish intraday trend; targeting 1.4530 then 1.4470 and require the daily close below 1.4810 to prevail.

The trading range for today is among the key support at 1.4470 and the key resistance at 1.4810.

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

Previous Report Weekly ReportSupport1.45651.44701.44351.43951.4330Resistance1.46951.47401.47801.48101.4865RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.4560 targeting 1.4650 and stop loss above 1.4810, might be appropriate.