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Despite the inability to breach the 113.15 areas, the pair is attempting to confirm the ability with signs of a bullish classic pattern. But at the same time, we can not confirm the upside move unless the aforesaid resistance is breached, where returning below 111.90 confirms the weekly expectations mentioned in our report yesterday. Accordingly, we remain neutral for now awaiting further confirmations by midday.
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.
Support112.65112.10111.60111.35111.05Resistance112.95113.15113.60114.00114.75RecommendationBased on the charts and explanations above we remain neutral awaiting more confirmations