The pair managed to primarily reach the previously mentioned pivotal support at 90.80, but yesterday's closing was above it and thereby postponing the breach process. The pair continues to fluctuate around this level as it is currently below it; where we see it retesting the breakout areasand thus; our previous expectations are stillintact. We expect the expected direction is bearish over an intraday basis that will start its targets at 89.55 then 88.90. Achieving these expectations requires stability below 91.70.
The trading range for today is among the key support at 89.55 and the key resistance at 92.25.
The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.
Previous Report Weekly ReportSupport90.0089.5588.9088.4087.75Resistance90.8091.4591.7092.2592.65RecommendationBased on the charts and explanations above our opinion is selling the pair around 90.80 targeting 89.55 and stop loss above 91.70, might be appropriate.