Morning Report

The pair managed to achieve a sharp downside trend but managed to halt at touching support for the ascending short term channel. Meanwhile, ideal trading still remains within the current upside channel, due to positive signs appearing through momentum indicators. We expect a bullish intraday trend; targeting mainly 1.1730 then 1.1800, where these expectations will prevail is trading remains intact above 1.1465.

The trading range for today is among the key support at 1.1465 and the key resistance at 1.1780.

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

Previous Report Weekly ReportSupport1.15201.14801.14651.14001.1370Resistance1.16251.16851.17301.17801.1825RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.1520 targeting 1.1685 and stop loss below 1.1465, might be appropriate.