The pair is presently fluctuating around the previous broken support level as we discussed earlier. This level is valued at 1.0570 as seen on the secondary image. SMA 50 acts as a solid resistance, preventing the pair from showing positive action. Thus; the intraday outlook might be bearish, targeting 1.0425 after touching 1.0570. Stochastic supports our anticipations but the four-hour candlesticks closings should be always below 1.0610.

The trading range for today is among the key support at 1.0425 and the key resistance at 1.0630.

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

Weekly Report Previous Report

Support1.04951.04251.03601.03001.0235
Resistance1.05701.06101.06451.07151.0745
RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.0570 targeting 1.0495 and stop loss above 1.0610, might be appropriate