Midday Report

The pair declined, forming a long black candlestick over four-hour basis - the secondary image- as we mentioned in our technical message, supporting the expected bearishness detected from our suggested daily Elliott sequence. Hence, we keep our intraday overview to the downside for the rest of the day.

The trading range for today is among key support at 126.50 and key resistance now at 136.60.

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