The pair is attempting to breach the support of the minor ascending channel shown on image, which is a continuation flag formation, and this supports our expectations for an intraday downside move today supported by the negative pressure from the 50 EMA. Targets start at 100.00 and require steady trading below 102.65.
The trading range for this week is expected among the key support at 99.40 and the key resistance at 102.65.
The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.
|Recommendation||Based on the charts and explanations above we recommend selling the pair with a breach below 101.70 targeting 100.00 ,stop loss with four-hour closing above 102.55 may be appropriate|