The support level of the range areas and also the uptrend line which carried the movements from 126.70 zones protected the pair is it supposed to be, pushing it to the upside. Thereby, additional upside movements could be witnessed over intraday basis tocomplete the formationof the CD legfor the suggested harmonic pattern that is still under preparation. AROON and RSI 14 support this positive scenario.
The trading range for today is among key support at 130.50 and key resistance at 138.60.
The general trend over short term basis is to the downside, targeting 118.80 as far as areas of 150.75 areas remain intact.
Support133.60133.15132.50131.60131.25Resistance134.80135.50136.20136.80137.30RecommendationBased on the charts and explanations above our opinion is, buying the pair with a breakout above 134.80 targeting 137.30 and stop loss below 133.15 might be appropriate.