Morning Report

The pair succeeded in achieving a bearish crossover on Stochastic over daily studies and we will use this sign to suggest potential downside move today. Moreover, we can notice how the pivotal resistance around 1.5925 has limited yesterday's bullish attempts. A break below 1.5785 is required to reinforce our technical overview.

The trading range for today is among key support at 1.5640 and key resistance at 1.6075.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, selling the pair around 1.5890 targeting 1.5680 and stop loss above 1.5995 might be appropriate.