Morning Report

The pair succeeded in resuming yesterday suggested retest level and presently trading below 0.9600, while keeping in mind the breach of minor support that currently turned into resistance at 0.9615. The positivity of momentum indicators could push to retest this level before heading towards continuing on with the expected bearish intraday trend; key targets start at 0.9460. It is vital that 0.9700 remains intact in order for chances of a suggested downside direction to continue.

The trading range for today is among the key support at 0.9400 and the key resistance at 0.9770.

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

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair around 0.9615 targeting 0.9460 and stop loss above 0.9700, might be appropriate.