Midday Report

The pair moved downwards aggressively, supporting the strength of 261.8% Fibonacci level for the bearish harmonic AB=CD pattern. The intraday outlook is still to the downside supported by OsMA, RSI 14 and AROON bearish signs. Breaching the key support level of 147.10 will ignite a panic sell-off action towards 145.40 zones.

The trading range for today is among key support at 142.25 and key resistance at 155.80.

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

RecommendationOur morning expectations remain valid