Mid-day report

The euro versus the dollar inclined this morning, settling around 1.4300 with constant bias to the upside to achieve theexpected bullish movefor today. We still hold onto our morning expectations, awaiting forthe pair tobuild a solid base on 1.4250 support level, to then head upwardsover intraday basisas detailed in our morning report. It is important to await for the ECB rate decision at 11:45 GMT for today; something that could lead to mixed trading before settling and attempting to achieve the upside move for today.

The trading range for today is among the key support at 1.3975 and the key resistance at 1.4650.

The general trend is to the downside as far as 1.4720 remains intact with targets at 1.2120.

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.4250 To 1.4375 and stop loss below 1.4145, might be appropriate