Morning Report

The pair is presently correcting yesterday's strong bullish actions, retesting the broken Fibonacci level of 38.2% as seen on the provided four-hour chart. Now, the chart offers the probability of forming a classical continuation pattern and thus; we keep our suggested bullish scenario of Elliott count ,intact over intraday basis.

The trading range for today is among key support at 131.25 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.

Weekly Report Previous Report

Support133.60133.15132.50131.60131.25Resistance134.80135.50136.20136.80137.30RecommendationBased on the charts and explanations above our opinion is, buying the pair around 133.80 targeting 136.20 and stop loss below 132.00 might be appropriate.