Morning Report

The pair is moving according to yesterday's suggested scenario touching awaited correction around 93.60, accompanied by bullish momentum appearingonStochastic. We expect returning within the breached ascending channel; therefore we expect a bullish trend for today where its targets start at 94.80 then 95.30. These expectations require trading to remain above 93.15.

The trading range for today is among the key support at 93.15 and the key resistance at 95.30.

The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.

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RecommendationBased on the charts and explanations above our opinion is buying the pair from 94.00 target 95.30 and stop loss below 93.15, might be appropriate.