Morning Report

The pair stabilized above 1.5230 while continuing to fluctuate near this level due to the negative signs on momentum indicators. Stabilizing above pivotal support between 1.5230 - 1.5200 will maintain its targets at 1.5300, and then ascend more towards 1.5500. It is vital that a base above 1.5130 to maintain chances of achieving these expectations.

The trading range for today is among the key support at 1.5130 and the key resistance at 1.5500.

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

Previous Report Weekly ReportSupport1.52301.52001.51701.51301.5080Resistance1.52701.53001.53601.53951.5435RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.5230 targeting 1.5360 and stop loss below 1.5130, might be appropriate.