Morning Report

After the breach of the falling wedge level in yesterday's reports, the pair is currently attempting to retest this level at 1.0745 - shown in the side image -.Stochastic is nearing oversold levels; therefore we expect a bullish intraday direction heading towards 1.0895 as a main target that requires the four-hour closing to be above1.0645 to be achieved.

The trading range for today is among the key support at 1.0605 and the key resistance at 1.0895.

The general trend is to the downside as far as 1.1095 remains intact with targets at 0.9910.

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More Technical Analysis

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0745 targeting 1.0895 and stop loss below 1.0645, might be appropriate.