Morning Report

The pair continued its upside push nearing resistance for the ascending channel at 1.1230. The minor bearish correction is expected due to the effect of momentum indicators to touch 1.1090, followed by resuming the bullish intraday direction. It is vital that 1.1020 remain intact to maintain chances of these expectations prevailing.

The trading range for today is among the key support at 1.1020 and the key resistance at 1.1290.

The short term trend is to the downside as far as 1.0200 remains intact with targets at 1.2000.

Previous Report Weekly ReportSupport1.10901.10201.09901.09251.0880Resistance1.12301.12501.13151.13551.1435RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.1090 targeting 1.1230 and stop loss below 1.1020, might be appropriate.