Midday Report

The pair has moved within a tight range below the Fibonacci level of 261.8%. A breakout below 134.70 will accelerate the intraday bearish harmonic scenario of AB=CD, targeting 133.60. William %R and CCI support our highly predicted bearishness. Note that a breakout below 133.60 will lead the pair to the key support level of 132.50.

The trading range for today is among key support at 132.50 and key resistance now at 138.20.

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