Mid-day report

The pair is moving consecutively below the pivotal solid support which turned into resistance at 132.50. Therefore, we keepour intraday overview to the downside, depending on the short term bearish scenario of Elliott sequence. Note that, momentum indicators support the negative anticipation.

The trading range for today is among key support at 127.60 and key resistance now at 135.40.

The general trend is to the downside as far as 141.44 remains intact with targets at 100.00 followed by 88.97 levels.

RecommendationOur morning expectation is still valid