Morning Report

The pair inclined aggressively, activating the RSI 14 positive sign, signaling that the previous discussed upside corrective rally towards the broken neckline of our captured daily double top around 147.00 has been activated. The secondary image shows a bullish candlestick formation above the key support level of 141.70 that argues us to keep our overview to the upside on the intraday basis.

The 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.

Support142.60141.70141.00140.50139.70
Resistance143.40144.00144.95145.50146.20
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