Morning Report

The pair managed to build a new techncial base on support for the bullish short term direction, shown in the image above, alongside positive signs appearing through the stochastic; thus, making us expect a bullish direction today that targets mainly 1.0700 and requires 1.0465 to remain intact within the four hour closing above it.

The trading range for today is among the key support at 1.0465 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.