Morning Report

Fibonacci of 50% was able to stop the pair's negative momentum yesterday, where we find 61.8% Fibonacci correction at 0.9415 and the support level at 0.9400 remained intact. This suggests another bullish attempt today, but there are some negative signs on momentum indicators, and the pair is stable below the exponential moving average 20 and 50. Therefore, consolidation above 0.9485 again is required to support the return of the positivity. A breach of 0.9400 is a bearish sign.

The trading range for today is among the major support at 0.9300 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

Support0.94500.94150.94000.93650.9300
Resistance0.94850.95200.95750.95900.9660
RecommendationBased on the chart and explanations above, our opinion is buying the pair above 0.9450, and taking profit in stages at (0.9600 and 0.9740) and stop loss with a daily closing below 0.9400 might be appropriate