Morning report

A positive daily closing above 149.00 areas along with a slant positive divergence as seen on our provided chartencourages us to say that a temporary upside correction is in progress towards the broken support areas –turned into resistance-between [152.80-153.60] but without ignoring the factthat this anticipated bullishness should be treated as a correction inside the bigger picture of the classical double top pattern.

Trading range for today is among key support at 145.50 and key resistance at 155.85.

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

Support150.00149.30148.75148.20147.30
Resistance150.55151.00151.60152.40152.80
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 150.00 targeting 152.40 and stop loss below 148.00 might be appropriate.