Morning Report

The pair trading consolidated below the breached pivotal support at 0.8550, while stochastic is showing negative signs on four-hour basis, therefore, we expect intraday downside move affected by the downside channel as shown on image, main targets at 0.8300

The trading range for today is among the major support 0.8300 and the major resistance 0.8655.

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

RecommendationBased on the charts and explanations above we recommend selling the pair around 0.8550, targeting 0.8425 and 0.8300, and stop loss above 0.8650 might be appropriate for today.