Midday Report
The pair spiked above 1.3220 resistance to activate our morning scenario, however failed to hold above the level, currently attempting to settle below the level again. The 50-days SMA forms a strong intraday support level, thus with a breach below 1.3200 we may see the downside move accelerate.
The trading range for today is among key support at 1.3005 and key resistance at 1.3385.
The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact.
| Support | 1.3200 | 1.3140 | 1.3110 | 1.3070 | 1.3055 |
| Resistance | 1.3250 | 1.3290 | 1.3320 | 1.3360 | 1.3400 |
| Recommendation | Our morning scenario remain valid. | ||||
Great British Pound (GBP)
Midday Report
The pair maintained the bullish bias, currently trading above the key level at 1.6170.Accordingly; our morning scenario is activated and remains valid for the rest of the day. Taking into consideration that steady trading above 1.6170 could weaken the suggested bearish scenario.
The trading range for today is among key support at 1.5880 and key resistance at 1.6300.
The general trend over short term basis is to the downside, targeting 1.4225 as far as areas of 1.6875 remain intact.
| Support | 1.6165 | 1.6100 | 1.6060 | 1.6025 | 1.6000 |
| Resistance | 1.6200 | 1.6250 | 1.6270 | 1.6300 | 1.6330 |
| Recommendation | Our morning scenario remains valid. | ||||
Japanese Yen (JPY)
Midday Report
The pair dropped sharply to test the support level we mentioned this morning at 80.80. A sustained break below the level could lead to further downside pressure eying 80.30 as the next possible stop.
The trading range for today is among key support at 80.00 and key resistance now at 82.70.
The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.
| Support | 80.75 | 80.50 | 80.20 | 80.00 | 79.75 |
| Resistance | 81.25 | 81.50 | 81.80 | 82.00 | 82.25 |
| Recommendation | Based on the charts and explanations above our opinion is, selling the pair below 80.80 targeting 80.30, stop loss above 81.05 | ||||
Swiss Franc (CHF)
Midday Report
The pair rebounded after testing the awaited level at 0.9075 thus activating our morning scenario which remains valid for the rest of the day.
The trading range for today is among key support at 0.8965 and key resistance at 0.9260.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remain intact.
| Support | 0.9080 | 0.9030 | 0.9000 | 0.8985 | 0.8965 |
| Resistance | 0.9145 | 0.9175 | 0.9200 | 0.9230 | 0.9260 |
| Recommendation | Our morning scenario remain valid. | ||||
Canadian Dollar (CAD)
Midday Report
Loonie rebounded slightly after dipping near to 0.9800 pivot, we expect the correction to extend a little bit further however we still hold onto our expectations for another downside attempt.
The trading range for today is expected among the key support at 0.9750 and resistance at 0.9900.
The short term trend is to the upside targeting 1.0650 with steady weekly closing above 0.9900.
| Support | 0.9800 | 0.9770 | 0.9750 | 0.9720 | 0.9700 |
| Resistance | 0.9840 | 0.9865 | 0.9900 | 0.9920 | 0.9950 |
| Recommendation | Based on the charts and explanations above, our opinion is selling the pair around 0.9860 targeting 0.9800 and 0.9750. Stop loss above 0.9900. | ||||
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