Morning Report

The pair is wedged above 1.1500 is ignoring the negative momentum appearing on the image above. Some possible fluctuation is expected, which could head towards 38.2% Fibonacci correction level at 1.1460 from the bullish wave that has started after the breach of resistance for the ascending wave then continuing the bullish intraday direction. The bullish short term trend will remain intact as long as trading is above 1.1330.

The trading range for today is among the key support at 1.0330 and the key resistance at 1.1100.

The general trend is to the upside as far as 1.0200 remains intact with targets at 1.2000.

Previous Report Weekly ReportSupport1.14601.14301.13851.13051.1245Resistance1.15551.16201.16851.17351.1785RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.1460 targeting 1.1555 and stop loss below 1.1385, might be appropriate.