Morning Report

The pair continues fluctuating around pivotal support 0.9235 in an attempt to gain enough negative momentum that will help it continue its bearish journey, while stochastic enters overbought areas. Hence, we expect a bearish intraday trend to resume towards targets initially around 0.9000. Note the importance of stabilizing below 0.9330 in order to maintain chances of resuming these expectations.

The trading range for today is among the key support at 0.9050 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 below 0.9235 targeting 0.9105 and stop loss above 0.9330, might be appropriate.