Morning Report

The pair failed to maintain levels above the initial resistance levels of 113.60 once more but it still moving inside the bullish channel that controls the movements from the lower line of the trading range areas. It could be supported there as it meets the upper line of Keltner channel and then inclines towards 38.2% Fibonacci level and also it could test 23.6% Fibonacci level first. Hence ,our outlook today is neutral until a clearer sign appears.

The trading range for today is among key support at 110.00 and key resistance now at 115.75.

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

Support112.10111.60111.35111.05110.50Resistance112.80113.15113.60114.00114.75RecommendationBased on the charts and explanations above our opinion is, staying aside until a clear sign appears to pinpoint the upcoming move.