Breaching the pivotal resistance level of 132.50 has made the bigger picture to come into focus once more. The daily chart offers a potential harmonic CD leg for harmonic formation; targeting 136.10 zones. Yesterday's candlestick formation has closed positively above SMA 50-secondary image-, adding additional confirmation to our positive expectation.
Trading range for today is among key support at 130.50 and key resistance now at 136.10.
The general trend is to the downside as far as 141.44 remains intact with targets at 100.00 followed by 88.97 levels.
|Recommendation||Based on the charts and explanations above our opinion is, buying the pair from 133.00 targeting 134.85 and stop loss below 131.60 might be appropriate.|