Morning Report

The pair reversed from levels near the descending trend line and currently approaching the 50-days SMA and 0.9140-0.9150 support level. Stabilizing above the 50-days hint we may see further upside attempts within the upcoming period as Stochastic has dipped within oversold area. Thus we anticipate an upside rebound.

The trading range for today is among key support at 0.9070 and key resistance at 0.9300.

The general trend over short term basis is to theupsidetargeting0.9950as far as areas of0.8850remain intact.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 0.9120 targeting 0.9220 and 0.9330 , stop loss below 0.9000 might be appropriate.