Morning Report

The pair has declined once again closing below SMA 100 as seen on the provided daily chart. Actually, it became very close to the previous detected support of 0.9105 while Stochastic also becomes close again to the oversold areas despite showing bearish signal. Therefore, it is better to stay aside over intraday basis due to the sensitivity of the current technical levels as a break below 0.9105 will threaten the initial short term support of 0.9030. On the upside, coming above 0.9175 will bring the positive picture back into focus.

The trading range for today is among key support at 0.8965 and key resistance at 0.9310.

The general trend over short term basis is to the upside, targeting 0.9950 as far as areas of 0.8850 areas remain intact.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.