Key support 1.0825 maintained its stance in front of the pair's attempts yesterday to descend, accompanied by positive signs appearing through momentum indicators; thus, the suggested bullish rebound mentioned yesterday will be activated. These factors make us expect a bullish intraday direction that targets first are around 1.0970. Keep in mind that the breach of 1.0825 will cause the suggested bullish rebound to fail.
The trading range for today is among the key support at 1.0790 and the key resistance at 1.0970.
The short term trend is to the upside as far as 1.0200 remains intact with targets at 1.2295.
Previous Report Weekly Report
Support1.08251.07901.07251.06901.0645Resistance1.09251.09701.10451.11151.1175RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.0825 targeting 1.0970 and stop loss below 1.0725, might be appropriate.