The pair inclines violently, touching the full correctional level for the bearish wave from 143.60 to 132.00 levels. The deeper look at the daily charts proves that the harmonic butterfly of the daily basis is still forming its CD leg. Therefore, a break of 143.60 will be able bring aggressive upside actions, while being carried above Ribbons lines-EMA10 to 80-. Note that, RSI 14 moves inside overbought areas and might cause some kind of fluctuation.

The trading range for today is among key support at 139.10 and key resistance at 146.20.

The general trend over short term basis is to the downside, targeting 126.80 as far as areas of 146.20 areas remain intact.

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RecommendationBased on the charts and explanations above our opinion is, buying the pair with a breakout above 143.60 targeting 146.20 and stop loss below 141.50 might be appropriate.