Morning Report

The pair succeeded in achieving one more positive closing above the initial support zones around 0.9105 and above 50% Fibonacci of the upside wave from 0.8565 to the high of 0.9590 as seen on the provided daily chart. Additionally, Stochastic has overlapped positively suggesting more bullishness over intraday basis. A break above 0.9145-0.9175 will accelerate and confirm while clearing 0.8965 will give us a rational technical reason for pause.

The trading range for today is among key support at 0.8925 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 remain intact.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 0.9100 targeting 0.9300 and stop loss below 0.8965 might be appropriate.