Morning Report

The descending channel is showing signs that are controlling the pair's intraday trading, while remaining intact below MA 50 whileStochastic enters overbought areas, These factors encourage us to expect a bearish intraday trend that may build a base on 92.90 to head towards the main target at 91.45. it is important that level 92.90 maintain its bearish trend pace so expectations may prevail.

The trading range for today is among the key support at 91.45 and the key resistance at 93.30.

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

Previous Report Weekly ReportSupport91.8091.4591.1090.6590.20Resistance92.9093.3094.0094.8095.15RecommendationBased on the charts and explanations above our opinion is selling the pair from 92.90 target 91.45 and stop loss above 94.00, might be appropriate.