Morning Report

The pair was unable to breach pivotal support 1.4330 to show signs of an ascending channel that organizes the pair's upside push. This channel encourages expectations to achieve more possible upside movement is expected over an intraday basis towards the first key target at 1.4530 - the resistance level's sideway range - and then insure the upcoming intraday direction. This points to the breach of 1.4380 will pave the way towards yesterday's scenario returning and targeting mainly 1.4230.

The trading range for today is among the key support at 1.4230 and the key resistance at 1.4615.

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

Previous Report Weekly ReportSupport1.44201.43801.43301.42651.4230Resistance1.44601.45301.46151.46401.4700RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.4420 targeting 1.4530 and stop loss below 1.4330, might be appropriate.