Midday report

The pair declined mildly towards the pivotal support level of 141.60. We still think that its gathering enough momentum in order to re-test the broken neckline of our captured daily double top around 147.00 zones. RSI 14 is still moving within oversold areas, supporting the anticipated upside correction.

Trading range for today is among key support at 139.70 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.