Morning Report

The pair was able to achieve the awaited bearish trend due to support from the breach of the symmetrical triangle's support shown above. The pair is finding a difficult time in surpassing 1.0400, supported by oversold signs appearingon momentum indicators; therefore, some fluctuation may be witnessed until the bullish momentum is gotten rid of and then heads to resume the expected bearish intraday direction; targeting 1.0250 initially. Stability below 1.0540 is essential for the expected bearish trend to prevail.

The trading range for today is among the key support at 1.0250 and the key resistance at 1.0565.

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

Previous Report Weekly Report

Support1.04001.03501.03151.02501.0220Resistance1.04951.05651.06001.06751.0700RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0495 targeting 1.0380 and stop loss above 1.0565, might be appropriate.