Morning Report

The pair revisited critical areas at 0.9460 accompanied by Stochastic entering overbought areas which keeps the intraday bearish expectations valid as the bearish harmonic pattern which was completed with the breach of 0.9520 remains valid. Stability below 0.9460 is required for the bearishness to prevail targeting areas from 0.9320.

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

The short term trend is to the downside with steady daily closing below 1.0330 targeting 0.8000.

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