Midday Report

As we mentioned in our technical messages, the pair has reached the potential reversal zonefor the harmonic structure as seen on the above four-hour chart. The secondary hourly chart shows that a bearish candlestick structure is underway. A daily closing below 134.15 areas will confirm the negative overview which is supported by the negative signs on indicators.

The trading range for today is among key support at 130.50 and key resistance now at 137.40.

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 expectations remain valid