Midday Report

The pair is trading within narrow levels below the correction shown yesterday at 0.8170, while Stochastic shows negative signals on the four-hour basis. These factors have driven us to expect an intraday downside move, with targets at the psychological barrier of 0.8000. a breach of 0.8170 could delay the awaited targets.

The trading range for this week is among the major support at 0.7960 and the major resistance at 0.8235.

The short-term trend is to the downside with steady daily closing below 1.0330 targeting 0.7900.

Weekly Report

Previous Report

Support0.81100.80500.80000.79600.7900
Resistance0.81700.82350.82850.83250.8400
RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.8170 targeting 0.8000 and stop loss above 0.8285 might be appropriate today