Morning Report

The pair stabilized above the 50 MA, alongside signs of a bullish technical pattern with the neckline is at 1.5310. Therefore weexpect a bullish intraday direction that will start with the breach of the mentioned neckline initially targeting 1.5455. It is vital the a base is built above 1.5220 to maintain chances of achieving this scenario.

The trading range for today is among the key support at 1.5160 and the key resistance at 1.5525.

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

Previous Report

Weekly Report

Support1.5220 1.51601.5125 1.50801.5015 Resistance1.5310 1.5355 1.5390 1.54501.5475 RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.5310 targeting 1.5455 and stop loss below 1.5220, might be appropriate.