Morning Report

The pair strongly pushed to the upside to breach pivotal resistance starting from 88.00 then 88.20, which is aboveSMA 50. These factors make us expect a bullish intraday direction that targets retesting 89.45, but keep in mind that the negativity on momentum indicators could cause some fluctuation aroundthe brokenresistance levels that have currently turned into support before heading towards the suggested targets.

The trading range for today is among the key support at 87.00 and the key resistance at 89.45.

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

Previous Report Weekly ReportSupport88.2087.5587.0086.4085.80Resistance88.9589.4589.7090.2090.60RecommendationBased on the charts and explanations above our opinion is buying the pair around 88.20 targeting 89.45 and stop loss below 87.55, might be appropriate.