Morning Report

The pair attempted to breach the pivotal support shown yesterday at 1.4395, although the effect of the positive momentum is pushing the pair to ascend within the short term downside channel, which controlsthe currenttrading.Stochastic is close to losing the positive momentum and therefore we expect a bearish intraday trend; starting with the breach of the mentioned support and head towards 1.4230 as a first target.

The trading range for today is among the key support at 1.4230 and the key resistance at 1.4595.

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

Previous Report Weekly Report

Support1.44201.43951.43351.42651.4235Resistance1.44651.45401.45951.46801.4770RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.4395 targeting 1.4265 and stop loss above 1.4465, might be appropriate.