Morning Report

The bearish channel's support level has shown resilience in front of the pair's attempts at a strong upside movement after achieving full targets for the previously breached bearish technical pattern at 1.1480. Momentum indicators are showing a bullish trend, alongside trading within the current bearish channel, where we expect a bullish trend today; targeting pivotal resistance around 1.1440. Keep in mind that the breach of 1.1245 will pave the way towards continuing the bearish correction direction, where its upcoming targets are around 1.1115.

The trading range for today is among the key support at 1.1185 and the key resistance at 1.1440.

The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2295.

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Support1.12751.12451.11851.11151.1070Resistance1.13201.13651.14401.14801.1545RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.1320 targeting 1.1440 and stop loss below 1.1245, might be appropriate.