Midday Report


The pair is trading within the yellow shaded range bound among 98.35 and 97.40, while the 50-EMA continues to pressure trading negatively, thus a downside side move today is more likely but requires breaching 97.40 in addition to steady trading below 98.35.

The trading range for the day is expected among the key support at 95.70 the key resistance at 98.80.

The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.

RecommendationBased on the charts and explanations above we recommend selling the pair with a breach below 97.40 targeting 96.10 and 95.70 and stop loss above 98.35.