Morning Report


The pair breached the support of the side-way range shown above, supporting the continuation of the downside move for today, while positivity on stochastic may push the pair to retest the breached support at 103.40 before heading toward the awaited targets at 102.10 and 101.00.

The trading range for the day may be among the 101.70 support and 104.75 resistance.

The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.

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RecommendationBased on the charts and explanations above we recommend selling the pair around 103.40 targeting 102.10 and stop loss with four-hour closing above 104.25 may be appropriate