Morning Report

The pair is approaching the first target at 1.6455, while Stochastic is entering overbought areas, which might temporary halt the move when reaching the target. The stability of the ascending channel's support and stability above the MA 50 favors the general upside move for today which requires the clear breach and stability above 1.6455.

The trading range for today is among the major support at 1.6255 and the major resistance at 1.6635.

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

Previous Report

Weekly Report

Support1.63451.63001.62101.61801.6095
Resistance1.64551.65151.65501.66501.6650
RecommendationBased on the charts and explanations above we recommend buying the pair with hourly closing above 1.6455 targeting 1.6635 and stop loss below 1.6345 might be appropriate