Morning Report

The pair stabilized below the broken sideway range's support level around 0.9330, while the MA 50 continues negatively pressuring the pair. Stochastic is showing oversold signs that will maintain fluctuations for some time before we witness a retest of the breached support level, before continuing with the expected bearish intraday direction. Stability below 0.9330 is vital in order for chances of these expectations to resume.

The trading range for today is among the key support at 0.9100 and the key resistance at 0.9360.

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 0.9330 targeting 0.9200 and stop loss above 0.9430, might be appropriate.