Mid-day report

The morning anticipated bearishness has been confirmed by consecutive candlesticks bearish closing below Fibonacci expansion level as seen on the above four-hour chart, while the daily time scale proves the solid resistance which facedthe bearish daily trend line. Therefore, we keep our outlook to the downside for the rest of the day.

The trading range is among the key support at 0.8615 and key resistance now at 0.8960.

The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

RecommendationOur morning expectation is still valid