Morning Report

The pair continues moving to the upside within the ascending channel as shown above, ignoring the overbought signs seen on momentum indicators. We expect that the pair could provide more upside moves to test areas around 0.9590 and maybe 0.9650, which resides the main resistance of the upside move. Consolidation above 0.9490 should support the upside move to continue and should negate the overbought signs seen on momentum indicators.

The trading range for today is among the major support at 0.9400 and the major resistance at 0.9750.

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

**New York Candlesticks**

Previous Report

Weekly Report

Support0.95200.94900.94400.94000.9370
Resistance0.95900.96600.96850.97100.9750
RecommendationBased on the chart and explanations above, our opinion is buying the pair around 0.9520, and take profit in stages at (0.9590, 0.9660 and 0.9710) and stop loss below 0.9400 might be appropriate today