The previously discussed daily [double top] pattern, is still negatively pressuring the pair. The momentum indication shows that it needs some kind of bounce to relieve it, before resuming the major short term classical bearish outlook with a neckline around 146.80 zones. Note that, consecutive staying beneath 153.60 will confirm this scenario.
Trading range for today is among key support at 145.50 and key resistance at 155.80.
The general trend is to the downside as far as 167.40 remains intact with target at 116.00.
|Recommendation||Based on the charts and explanations above our opinion is, selling the pair from 150.60 targeting 148.25 and stop loss above 152.55 might be appropriate.|
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