Midday Report

The pair is moving downwards steadily after the break of the detected neckline for our detected daily double top formation andclosing below it. Further bearishness is underway, supported by AROON indicator alongside the daily negative candlesticks structure as seen on the secondary image.

The trading range for today is among key support at 140.00 and key resistance at 150.50.

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

RecommendationOur morning expectations remain valid