Mid-day report

A narrow range controlled the pair's movementduring the previous session. The pair touched the intraday key resistance level of 153.30, where it declined slightly forming a bearish hourly formation. Therefore, we see that the pair is preparingto resume the major downside movement over short and intraday basis, pressured by the classical daily double top as seen on the provided chart.

The trading range for today is among key support at 146.80 and key resistance at 157.30.

The general trend is to the downside as far as 167.40 remains intact with target at116.00.

RecommendationOur morning expectation is still valid