According to our short term Elliott sequence that's appearing on the provided four-hour chart; the pair has already formed the [B] wave and the C wave is now underway. Therefore, we keep our outlook to the upside over intraday basis, particularly if it succeeded in breaching the key resistance level of 145.50.
Trading range for today is among key support at 141.50 and key resistance at 150.60.
The general trend is to the downside as far as 167.40 remains intact with target at116.00.
Support144.60144.15143.60142.70141.50Resistance145.00145.50146.20146.80147.30RecommendationBased on the charts and explanations above our opinion is, buying the pair with a breakout above 145.50 targeting 147.30 and stop loss below 143.90 might be appropriate.
![Obama Heckler Medea Benjamin Of Code Pink Acknowledged During President's Drone Speech: 'That Woman Is Worth Listening To' [VIDEO, PHOTO]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_thumbnail/public/2013/05/23/medea-benjamin.jpg "Obama Heckler Medea Benjamin Of Code Pink Acknowledged During President's Drone Speech: 'That Woman Is Worth Listening To' [VIDEO, PHOTO]")
![Helen Mirren: Dying Boy, Oliver Burton, Gets His Last Wish Thanks To Actress Dressed As Queen Elizabeth [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_multimedia/public/2013/05/22/helen-mirren-visits-dying-boy_1.jpg "Helen Mirren: Dying Boy, Oliver Burton, Gets His Last Wish Thanks To Actress Dressed As Queen Elizabeth [PHOTOS]")
![Great GoogaMooga In Brooklyn: Music, Food And Disappointment As The Festival Gets Cancelled [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/21/matt-kim_4.JPG "Great GoogaMooga In Brooklyn: Music, Food And Disappointment As The Festival Gets Cancelled [PHOTOS]")
![Oklahoma Tornado 2013: Photos And Footage Of The Twister's Devastation [PICTURES, VIDEO]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_multimedia/public/2013/05/20/oklahoma-tornado_1.png "Oklahoma Tornado 2013: Photos And Footage Of The Twister's Devastation [PICTURES, VIDEO]")
![Billboard Music Awards 2013: All The Fashion On The Billboards Red (Er, Blue) Carpet [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/20/keha-givenchy.jpg "Billboard Music Awards 2013: All The Fashion On The Billboards Red (Er, Blue) Carpet [PHOTOS]")
![Fort Worth Texas Tornadoes Claim 6 Lives: Pictures And Videos During The Storm And Its Aftermath [PHOTOS/VIDEO]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/16/tornado.PNG "Fort Worth Texas Tornadoes Claim 6 Lives: Pictures And Videos During The Storm And Its Aftermath [PHOTOS/VIDEO]")
![5 Incredible Future Campuses For The World's Tech Giants [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_small/public/2013/05/22/amazons-biodome_0.jpg "5 Incredible Future Campuses For The World's Tech Giants [PHOTOS]")
Like or Follow us for updates on the biggest stories!