Midday Report

The current upside move was expected in our morning report, where we still witness this incline is to acquire downward momentum again, and breaching the ascending channel shown in the image above. RSI is nearing overbought areas, where the pair is nearing 127% extension. All these are signs insuring our morning report, with the possibility of the downside returning at any minute.

The trading range for today is among the key support at131.60 and the key resistance at 138.25.

The general trend is to the downside as far as141.44 remains intact with targets at 100.00 and 88.97.

RecommendationOur morning expectation remains valid