Morning Report

The pair is currently touching the minor ascending channel's support at 83.55, accompanied by momentum indicators from oversold areas; therefore, yesterday's suggested scenario will prevail and we expect that the expected bullish over an intraday direction targeting initially 85.00, resuming trading above 83.35.

The trading range for today is among the key support at 82.80 and the key resistance at 85.95.

The short term trend is to the downside as far as 91.55 remains intact with targets at 77.70.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 83.55 targeting 85.00 and stop loss below 82.80, might be appropriate.