Morning Report

The pair continues trading within a narrow range since yesterday, while attempting to resume some bullish movement that could touch the MA 50 before resuming the expected bearish intraday direction that is supported by the negative momentum appearing through stochastic. The expected targets start around 0.9100, while requiring trading to stabilize below 0.9330.

The trading range for today is among the key support at 0.9100 and the key resistance at 0.9330.

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

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9300 targeting 0.9200 and stop loss above 0.9360, might be appropriate.