Morning Report

The pair breached yesterday's support level that has presently turned into resistance as it currently moves to the upside towards 1.5475. This breach, alongside stability below the MA 50 will make us expect more bearish intraday movement starting targets at 1.5315 then 1.5200. Building a base below 1.5510 is vital so resuming expectations may remain valid.

The trading range for today is among the key support at 1.5200 and the key resistance at 1.5650.

The short term trend is to the upside as far as 1.5315 remains intact with targets at 1.7000.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.5475 targeting 1.5315 and stop loss above 1.5575, might be appropriate.