Morning report

The positive daily divergence is still preventing the pair from resuming the major bearish scenario of the classical daily double top pattern. Hence we still see that a temporary upside correction is in progress towards the broken support areas –turned into resistance - between [152.80 and 153.60].

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.

RecommendationBased on the charts and explanations above our opinion is, buying the pair from 148.90 targeting 151.50 and stop loss below 146.80 might be appropriate.