Morning Report

The pair succeeded in achieving yesterday's suggested scenario flawlessly that is currently at the key suggested target at 86.95 - the bottom recorded in the beginning of the current month -, supporting this level is the positivity of momentum indicators that could push the pair to bullishly correct before continuing the expected bearish intraday direction. Upcoming technical targets are around 85.95 then 84.80, but keep in mind the importance of stabilizing below 88.00 t maintain chances of achieving these expectations.

The trading range for today is among the key support at 84.80 and the key resistance at 88.00.

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

Previous Report Weekly ReportSupport86.9586.4085.9585.3585.00Resistance87.4588.0088.6589.1589.60RecommendationBased on the charts and explanations above our opinion is selling the pair around 87.45 targeting 86.40 and stop loss above 88.00, might be appropriate.