Midday report

The expected intraday bearish actions have been activated via the negative formation of the four-hour patterns that areforcing the pair to attack the key support level of 141.60. Hence we keep our overview to the downside for the rest of the day. TEMA and DEMA bearish overlapping protects our scenario.

Trading range for today is among key support at 137.50 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 expectation is still valid.