We can't say the CD leg of the suggested harmonic structure failed, since the range trading areas still dominates the pair's movements despite of the declines that had occurred during the past four hours. Also, we need a clear sign to be able to say that the suggested leg will be constructed successfully; hence our outlook will be neutral until a clear sign appears as the range trading areas controls the trend since the 11th of June.
The trading range for today is among key support at 130.50 and key resistance at 136.80.
The general trend over short term basis is to the downside targeting118.80as far as areas of 150.75 areas remain intact.
Support133.15132.50131.60131.25130.50Resistance134.25134.80135.50136.20136.80RecommendationBased on the charts and explanations above our opinion is, waiting until a clear sign to appear in order to pinpoint the coming big move.