The pair is fluctuating as we expected due to facing the upper line of the CT formation. Once it overcomes the overbought sign on Stochastic, it will be able to breach this pivotal resistance. From here, we hold onto our morning anticipations for the rest of the day, based on the suggested Elliott sequence.
The trading range for today is among key support at 130.50 and key resistance at 137.30.
The general trend over short term basis is to the downside targeting 118.80 as far as areas of 150.75 areas remain intact.
Support133.15132.50131.70130.50130.00Resistance134.25134.80135.50136.20136.80RecommendationOur morning expectations remain valid.