Morning Report

EMA 50 halted the downside move for the pair yesterday as the pair stabilizes above it. This factor and the positivity on Stochastic support the likelihood for an upside move today which requires the clear breach of 1.6470 and stability above 1.6300.

The trading range for today is among the major support at 1.6260 and the major resistance at 1.6650.

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

Previous Report

Weekly Report

Support1.63801.63001.62601.62101.6155
Resistance1.64701.65501.66001.66501.6700
RecommendationBased on the charts and explanations above we recommend buying the pair with hourly closing above 1.6470 targeting 1.6650 and stop loss below 1.6370 might be appropriate