Morning Report

The pair is trading around the support for the main ascending channel at 1.6235 while momentum indicators are moving within oversold areas, supporting the likelihood for an intraday upside move targeting 1.6455; nevertheless, breaching the mentioned support will extend the downside correctional move.

The trading range for today is among the major support at 1.6110 and the major resistance at 1.6575.

The short term trend is to the upside with steady daily closing above 1.5315 with targets at 1.7000.

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Weekly Report

RecommendationBased on the charts and explanations above we recommend buying the pair around 1.6235 targeting 1.6455 and stop loss below 1.6110 might be appropriate today