Midday Report

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The pair is trapped within a tight range, attempting to breach for the pivotal resistance level of 130.50. Therefore, we keep our bullish overview for the rest of the day, depending on the harmonic formation, seen on the four-hour chart, where the CD leg of AB=CD patternis still in progress, targeting 132.25 zones. A break of 128.80 can invalidate our scenario.

Trading range for today is among key support at 126.80 and key resistance now at 133.60.

The general trend is to the downside as far as 141.44 remains intact with targets at 100.00 followed by 88.97 levels.

Check our morning report here

Support129.40128.90128.45127.85127.35
Resistance130.50131.05131.60132.00132.50
RecommendationOur morning expectations remain valid