Morning Report

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The pair retested the breached pivotal support yesterday at 103.75 to reverse again as expected, thus, we continue expecting an intraday downside move targeting initially 102.45 and 101.00 while breaching 103.75 shall delay acquiring the awaited targets.

The trading range for the day may be among the 101.00 support and 104.75 resistance.

The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.

Previous Report

Weekly report

Support103.00102.45102.10101.70101.00
Resistance103.75104.25104.75105.15106.10
RecommendationBased on the charts and explanations above we recommend selling the pair around 103.75 targeting 102.10 , stop loss with four-hour closing above 104.75 may be appropriate