Morning Report

The pair moved according to yesterday's scenario to trade once again near support for the descending channel which is dropping towards 1.4210 to head towards technical targets that start at 1.4095 then 1.3940. It is vital that level 1.4405 remains intact to achieve the suggested scenario.

The trading range for today is among the key support at 1.4095 and the key resistance at 1.4405.

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

Previous Report Weekly ReportSupport1.42501.42101.41251.40951.4035Resistance1.43351.44051.44501.45201.4600RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.4335 targeting 1.4210 and stop loss above 1.4405, might be appropriate.