Morning Report

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Yesterday's daily closing below the pivotal support of 130.50 argues us to suggest a bearish direction over intraday basis and that is from a pure classical overview. We recommend reviewing yesterday's reports to check the importance of this aforesaid level. The weekly Elliott count back into focus, supported by the bearish sign, which appears on RSI 14 indicator.

The trading range for today is among key support at 127.30 and key resistance at 133.60.

The general trend over short term basis is to the downside, targeting 118.80 as far as areas of 150.75 areas remain intact.

Previous Report

Weekly Report

Support129.80129.25128.75127.80126.80
Resistance130.50131.00131.65132.50133.15
RecommendationBased on the charts and explanations above our opinion is, selling the pair around 130.50 targeting 127.80 and stop loss above 132.50 might be appropriate.