Morning Report

The pair is fluctuating around the key retesting level-valued at 1.5185- with stability within the bullish short term channel shown above. Momentum indicators are nearing oversold areas, thus encouraging us to expect a bullish intraday trend that requires trading above 1.5080 first, then head towards attacking the mentioned key resistance.

The trading range for today is among the key support at 1.4985 and the key resistance at 1.5300.

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

Weekly Report

Support1.50801.50301.49851.49251.4870Resistance1.51851.52301.52701.53001.5370RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.5080 targeting 1.5230 and stop loss below 1.4985, might be appropriate.