Morning Report

The pair was very close to achieving yesterday's awaited target at 1.4200, where it rebounded to the upside to complete the bullish technical pattern shown yesterday. The neckline forthe suggestedpattern is currently at 1.4445, where a breach is expected to pave the way for the bullish intraday trend as its targets start at 1.4600 then 1.4685. Keep in mind the importance of achieving stability above 1.4365 to maintain chances of this scenario prevailing.

The trading range for today is among the key support at 1.4315 and the key resistance at 1.4685.

The short term trend is to the downside as far as 1.5590 remains intact with targets at 1.3800.

Previous Report Weekly ReportSupport1.43701.43151.42501.41951.4125Resistance1.44451.45201.46001.46851.4740RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.4445 targeting 1.4600 and stop loss below 1.4370, might be appropriate.