Morning Report

Indeed, the pair succeeded in achieving another daily closing above SMA 200 -colored in grey- as seen on the main daily chart. But, we have been able to catch two negative technical factors that prevent us from suggesting additional upside movements as follows:

RSI 14 over four-hour time scale is definitely negative.

Stochastic over daily basis has already overlapped bearishly.

To recap, we keep our neutral stance intact over intraday basis.

The trading range for today is among key support at 1.5730 and key resistance at 1.6165.

The general trend over short term basis is to the downsidetargeting 1.4225 as far as areas of 1.6875 remain intact.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.