Morning Report

Yesterday's resistance level at 1.0545 held against the pair, accompanied by negative signs on Stochastic, where yesterday's suggested scenario remains intact. Therefore, we expect a bearish intraday trend initially targeting 1.0400 that requires four-hour closing below 1.0545.

The trading range for today is among the key support at 1.0400 and the key resistance at 1.0600.

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

Previous Report Weekly Report

Support1.04751.04001.03501.03151.0250Resistance1.05451.06001.06751.07001.0750RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.0545 targeting 1.0400 and stop loss above 1.0600, might be appropriate.