Morning Report

The pair succeeded in breaching pivotal support 0.9460 and stabilizing below it; therefore, making us expect a bearish intraday direction due to the breach of pivotal support level starting from 0.9520 then 0.9460 yesterday. The awaited targets begin around 0.9270, while requiring a daily closing below 0.9460 to continue.

The trading range for today is among the key support at 0.9200 and the key resistance at 0.9520.

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 0.9460 targeting 0.9320 and stop loss above 0.9520, might be appropriate.