Morning Report

The pair succeeded in breaching pivotal support 1.0560 - 1.0550 and stabilizes below it to start yesterday's suggested bearish wave. The stochastic is showing negative signs that will push the pair to retest the breached level before continuing the expected bearish intraday trend, where the initial target is around 1.0415. It is vital that stability is below 1.0600 to maintain chances of achieving this scenario intact.

The trading range for today is among the key support at 1.0365 and the key resistance at 1.0675.

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

Previous Report Weekly ReportSupport1.04751.04151.03801.03501.0315Resistance1.05601.06001.06751.07001.0750RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0560 targeting 1.0415 and stop loss above 1.0675, might be appropriate.