Morning Report

The pair is trading since yesterday around the 23.6% Fibonacci correction at 0.8455 as shown above, while Stochastic is entering overbought areas. Therefore, we await the reversal for the pair to resume the intraday move likely for today, targeting areas from 0.8320 then 0.8200. Breaching areas of 0.8455 and consolidation above it will extend the upside correction over intraday basis.

The trading range for today is among the major support at 0.8180 and the major resistance at 0.8455.

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

Previous Report

Weekly Report

RecommendationBased on 8670 charts and explanations above our opinion is selling the pair around 0.8455 targeting 0.8320 and stop loss above 0.8550 might be appropriate