Morning Report

The pair is still wedged between 23.6% and 38.2% Fibonacci correction shown on the image above, while conflicting signs continue appearing between stochastic's positivity and SMA's negativity. We recommend remaining neutral as we observe intraday trading for critical levels represented in support 1.5995 and resistance 1.6150.

The trading range for today is among the key support at 1.5870 and the key resistance at 1.6275.

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

Support1.59951.59951.58701.58101.5770
Resistance1.60601.60901.61501.62001.6245
RecommendationBased on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.