Morning Report

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The pair attempted to breach the retest level shown on image, however trading settles below the level while stochastic remains overbought, therefore, we will hold onto our intraday bearish expectations targeting initially 102.15. Invalidation level will be 105.10

The expected trading range for the day is among the key support at 100.90 and the key resistance at 104.30.

The short term trend is to the upside so far as 123.30 remains intact targeting 94.80.

Previous Report

Weekly Report

Support102.75102.30101.35100.90100.00
Resistance104.05104.30105.10105.75106.20
RecommendationBased on the charts and explanations above we recommend selling the pair around 104.05 targeting 102.30 and stop loss above 105.10 may be appropriate.