Morning Report

The pair respected yesterday's scenario and reached the awaited correction levels -strong resistance- supported by the SMA 50 and negativity on Stochastic. Therefore, we expect the intraday bearishness to dominate today towards 0.8600 and 0.8500 while stability below 0.8795 is essential to ensure not postponing the targets.

The trading range for today is among the major support at 0.8450 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.

Previous Report

Weekly Report

Support0.86700.86000.85450.85000.8450
Resistance0.87000.87450.87950.88350.8900
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