Our caught CD leg of the harmonic AB=CD formation completed, taking the pair towards the technical objectives of yesterday's reports. Now, the pair formed bearish candlesticks pattern under the pressure of 161.8% Fibonacci level of BC leg, reviving that the bearishness might dominate the movements over intraday basis. Indicators support our today's negative outlook.
The trading range for today is among key support at 127.80 and key resistance at 135.50.
The general trend over short term basis is to the downside, targeting 126.80 as far as areas of 150.75 areas remain intact.
Support132.00131.25130.50130.00129.10Resistance133.60134.25135.00135.50136.20RecommendationBased on the charts and explanations above our opinion is, selling the pair from 132.50 targeting 130.00 and stop loss above 134.35 might be appropriate.