Morning Report

The pair is attempting to breach the neckline highlighted in our previous reports around 0.9625, alongside trading below SMA 50 that we think will pave the way presently towards resuming the expected bearish intraday trend; targeting levels between 0.9460 - 0.9380. Note: the breach of 0.9675 could postpone resuming the expected scenario.

The trading range for today is among the key support at 0.9380 and the key resistance at 0.9740.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9625 targeting 0.9460 and stop loss above 0.9725, might be appropriate.