Morning Report

The pair is trading near the downside channel's resistance which currently declinied to 0.8520. We can notice that the pair is trading narrowly since yesterday, among Fibonacci corrections at 23.6% and 38.2%. In general, consolidating below the mentioned resistance support our expectations for an intraday downside move with targets starting from 0.8325, but the pair should consolidate below the resistance area among 85.20-40.

The trading range for today is among the major support at 0.8325 and the major resistance at 0.8600.

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 0.8520 targeting 0.8325 and stop loss above 0.8600 might be appropriate today