Midday report

The pair is mildly correcting the downside in order to relieve the momentum indicator, but we still see that the negative pressure of the double top may cause a downside collapse towards 146.80 -the neck line- first. Therefore we keep our overview to the downside for the rest of the day as far as 151.70 remains intact.

Trading range for today is among key support at 143.60 and key resistance at 153.60.

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

RecommendationOur morning expectation is still valid.