Morning Report

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The pivotal support levels of 136.20 were breached successfully alongside long black candlestick formation as seen on the provided daily chart. AROON still shows that the bearish pressure is increasing gradually while RSI 14 moved lower. Therefore, the bearish correction is still in progress andwe hold onto our negative anticipations over intraday basis. For detailed explanations, we recommend reviewing the weekly report.

The trading range for today is among key support at 132.50 and key resistance at 138.40.

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

Support134.80134.25133.60133.15132.50
Resistance136.20136.80137.30137.90138.40
RecommendationBased on the charts and explanations above our opinion is, selling the pair around 135.75 targeting 133.60 and stop loss above 137.35 might be appropriate.