Midday Report

Under the negative pressures from the daily double top formation, the pair is moving downwards and any upside movements should be seen as correctional, which will not change the bearish anticipation over short term basis. Now the door is open for the pair to reach the detected pattern's technical target around 137.50, followed by 134.95, while AROON along with the candlesticks structure show the strength of the downtrend.

The trading range for today is among key support at 134.95 and key resistance at 147.30.

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

RecommendationOur morning expectations remain valid