Moring Report

The pair reached the resistance for the main descending channel and turned lower to stabilize below the 23.6% Fibonacci correction alongside the negative signals from Stochastic over four-hour basis. Therefore, we maintain the intraday bearish expectations for today with the first target at the support for the sideways range at 0.8325; breaching 0.8480 will weaken this scenario.

The trading range for today is among the major support at 0.8250 and the major resistance at 0.8540.

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

Morning Report

Weekly Report

Support0.84150.83250.82500.81700.8110
Resistance0.84800.85400.86050.86750.8755
RecommendationBased on 8670 charts and explanations above our opinion is selling the pair around 0.8480 targeting 0.8325 and stop loss above 0.8540 might be appropriate