Morning Report

The pair is currently retestingthe brokensupport around 93.60 that has turned into resistance, where our expectations yesterday remain intact as we still see that the expected direction over an intraday basis remains bearish; targeting 92.90 then 92.30 and essentially requires 94.00 to remain intact.

The trading range for today is among the key support at 92.30 and the key resistance at 94.00.

The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.

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RecommendationBased on the charts and explanations above our opinion is selling the pair from 93.60 target 92.90 and stop loss above 94.00, might be appropriate.