Morning Report

A series of Fibonacci levels are presently controlling the movements of the pair as follows:

1- Moving below 23.6% for the rally from 141.80 to 145.95

2-PRZ for the harmonic formation is seen around 61.8% form XA leg.

3-PRZ is around 161.8% from BC leg.

Thus; possible bearish actions could be seen over intraday basis, while Stochastic supports our overview.

The trading range for today is among key support at 141.50 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.

Weekly Report Previous Report

Support143.60142.80142.00141.50141.00Resistance144.40144.80145.50146.20146.80RecommendationBased on the charts and explanations above our opinion is, selling the pair from 144.40 targeting 142.25 and stop loss above 146.20 might be appropriate.