Morning Report

The pair continued yesterday's upside trend starting from the declining intraday channel's support level, shown above touching its resistance around 0.9685. Stochastic entered overbought areas making us expect to resume the bearish intraday direction, targeting initially 0.9460. Note the importance of stability below 0.9685 in order for chances of these expectations to prevail.

The trading range for today is among the key support at 0.9460 and the key resistance at 0.9820.

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 0.9685 targeting 0.9505 and stop loss above 0.9785, might be appropriate.