Morning Report

The pair returned to build a base below 0.9855, while continuously stabilizing below the MA 50. The minor ascending channel is still controlling present trading forming the continuous flag pattern; therefore, we await for the breach of this channel's support level at 0.9785 to make the task for the expected bearish intraday direction easier. Note that building a base below 0.9935 is vital to resume these expectations.

The trading range for today is among the key support at 0.9660 and the key resistance at 0.9935.

The short term trend is to the downside as far as 1.0330 remains intact with targets at 0.8000.

Previous Report

Weekly Report

Support0.98000.97650.97000.96650.9600
Resistance0.98550.98750.99350.99701.0000
RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9855 targeting 0.9700 and stop loss above 0.9935, might be appropriate.