Morning Report

The pair is showing some signs of recovery after it approached our technical objective at 0.9310. Momentum indicators support the current bullishness, which we believe that it will take us towards 0.9430-0.9460 before resuming the bearishness inside our caught bearish channel. Now, area of 0.9270 and 0.9200 are under our microscope as technical targets of this negative scenario.

The trading range for today is among the key support at 0.9200 and the key resistance at 0.9550.

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 selling the pair around 0.9430 targeting 0.9310 and stop loss above 0.9525, might be appropriate.