The pair stabilized below the support for the bearish trend that has currently turned into resistance at 88.70. We expect a base to be built on this level, from where the pair will start the overall bearishness projected for todaytargeting 88.00 then 87.30. Our bearish expectations remain valid as far as trading remains below 89.30.
The trading range for today is among the key support at 87.30 and the key resistance at 89.70.
The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.
Previous Report Weekly Report
Support88.0087.7587.3086.9086.40Resistance88.7089.2589.7090.2090.60RecommendationBased on the charts and explanations above our opinion is selling the pair around 88.70 targeting 87.75 and stop loss above 89.30, might be appropriate.