Mid-day report

The pair is still controlled inside our detected declining channel. Further bearishness is under preparation, depending on the bearish harmonic structure which may be able to accelerate the anticipated direction towards 129.80 which represents the target for the Elliott cycle.

The trading range for today is among key support at 129.80 and key resistance now at 136.30.

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