Morning Report

The pair stabilized below the upside channel's support level highlighted in the image above, where this negative sign is considered as a chance to resume some bearish correction. In return, Stochastic's clear signals along with support offered by SMA support returning within the bullish trend once again. This conflict between technical signs makes us remaining neutral today, specifically around critical levels between support 1.6215 and resistance 1.6360.

The trading range for today is among the key support at 1.6105 and the key resistance at 1.6450.

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

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Weekly Report

RecommendationBased on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.