Morning Report

The pair continues to trade under the negative pressure reaching 0.8700 while momentum indicators provided clear oversold signals supporting the strength of the support. This positivity is expected to push the pair higher in a slight correction before initiating the intraday bearish move expected today targeting 0.8600 and 0.8500. Breaching 0.8900 will extend the upside move towards the downside channel's resistance around 0.9080.

The trading range for today is among the major support at 0.8500 and the major resistance at 0.8900.

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

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Weekly Report

Support0.87000.86700.86000.85450.8500
Resistance0.87950.88500.89000.89500.9005
RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.8795 targeting 0.8600 and stop loss above 0.8900 might be appropriate