Morning Report

The pair declined sharply, to currently trading in areas around 61.8% Fibonacci correction as shown above on the chart, where these levels around 0.9400-15 represent critical barriers. We recognize a bearish double top pattern, but at the same time the bullish technical structure shown above in red is still valid. Therefore, due to the technical conflict seen we remain neutral today, awaiting more confirmations.

The trading range for today is among the major support at 0.9235 and the major resistance at 0.9660.

The short-term trend is to the upside with steady weekly closing above 0.8850 targeting 0.9950.

**New York Candlesticks**

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above we remain neutral, awaiting more confirmations