Morning Report

Just twenty pips separated between the pair and the defined technical target of yesterday's suggested bullishness at 112.90, where we see that a duplicated bearish harmonic pattern has been completed. Thereby possible descending movements could occur over intraday basis, supported by indicators.

The trading range for today is among key support at 109.45 and key resistance now at 115.00.

The general trend over short term basis is to the downside, targeting 97.90 as far as areas of 132.50 remain intact.

Weekly Report Previous Report

Support111.90111.05110.40110.00109.45Resistance112.90113.60114.35115.00115.75RecommendationBased on the charts and explanations above our opinion is, selling from 112.60 targeting 110.55 and stop loss above 114.35 might be appropriate.