Morning Report

After the pair managed to achieve the required scenario from yesterday, the top recorded on last Friday Wednesday around 1.1585 once again in front of the pair's attempts to ascend. This second top recorded yesterday, encouraged us to expect a bearish correction over an intraday basis, which will start with the breach of 1.1460 and head towards the first target in order to retest 1.1340. A break of the mentionedpeakcould pave the way to resume the bullish short term trend without the required correction.

The trading range for today is among the key support at 1.1340 and the key resistance at 1.1735.

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

Previous Report Weekly ReportSupport1.14601.14301.13851.13401.1305Resistance1.15851.16201.16851.17351.1785RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.1460 targeting 1.1340 and stop loss above 1.1535, might be appropriate.