Morning report

The pair inclined aggressively, approaching the detected technical target of yesterday's analysis-check it here-. Thus; the previous discussed upside corrective rally towards the broken neckline of our captured daily double top around 147.00 zones has been activated. The daily candlestick formation in addition to the positive sign appearing on RSI 14 supports the intraday bullishoutlook.

Trading range for today is among key support at 138.70 and key resistance at 147.00.

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 142.60 targeting 145.20 and stop loss below 140.60 might be appropriate.