The pair is trading according to yesterday's suggested scenario flawlessly as it retests the breached pivotal support yesterday around 1.1425, while trading continues within the bearish correctional channel shown above. It is vital that stability is built below the mentioned level, which encourages us to expect a bearish intraday trend; targeting first 1.1245. Keep in mind the importance of building a base below 1.1480 to maintain chances of achieving the suggested scenario.
The trading range for today is among the key support at 1.1245 and the key resistance at 1.1545.
The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2295.
Previous Report Weekly Report
Support1.13301.13001.12451.11801.1120Resistance1.14251.14801.15451.16051.1675RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.1425 targeting 1.1330 and stop loss above 1.1480, might be appropriate.