Morning Report

The pair has been capable ofbuilding a base on the first minor correction level at 1.0550, inline with positive rebound signs appearing through the stochastic, where our expectations for yesterday will prevail. From here, we see that the expected direction for today is bullish; targeting first 1.0700 and requires the four house closing above 1.0500.

The trading range for today is among the key support at 1.0500 and the key resistance at 1.0700.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

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RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0550 targeting 1.0645 and stop loss below 1.0465, might be appropriate.