Morning Report

The level of 23.6% Fibonacci correction was able to stop the pair's negative momentum, while the pair returned to trade above the Exponential Moving Average 20. At the same time, the Butterfly harmonic pattern is still valid, while Stability below 0.9185 supports the continuous effect of the pattern. Stochastic is within overbought areas, while the Relative Strength Index is trading positively above the 50 points level. Therefore, , we remain neutral today due to the technical conflict seen.

The trading range for today is among the major support at 0.8695 and the major resistance at 0.9270.

The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.

Previous Report

Weekly Report

Support0.90300.89800.89200.88500.8835
Resistance0.90800.91050.91850.92300.9270
RecommendationBased on the charts and explanations above we remain neutral awaiting more confirmations