Midday Report

The pair is moving steadily below the key resistance level at 134.15, reaching our first projected target around 132.50 as seen on the above chart. Additional bearishness is to come over intraday and short term basis, activating the impulsive downside wave- third wave-. AROON and RSI 14 offer potential downside resumption.

The trading range for today is among key support at 130.05 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 expectations remain valid