Morning Report

The pair closely neared touching yesterday's awaited areas of90.70, while trading is wedged within the sideway range shown yesterday. The same suggested scenario will remain intact, therefore we expect a base to be built on 90.70 followed by a reversal the pair through it will achieve a bearish intraday direction; targets start at 89.00 and require the daily closing below 91.25 to prevail.

The trading range for today is among the key support at 88.40 and the key resistance at 91.25.

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

Previous Report Weekly ReportSupport90.0089.6089.0088.7088.40Resistance90.7091.2591.6092.2592.80RecommendationBased on the charts and explanations above our opinion is selling the pair from 90.70 targeting 89.00 and stop loss above 91.60, might be appropriate.