Morning Report

The pair retested support for the previously breached minor bullish channel that has currently turned into resistance at 87.30, accompanied by negative signs appearing through the stochastic. This makes us expect a bearish trend over an intraday basis; targets start at 85.95. This points out that these signs require stability below 88.10 to prevail.

The trading range for today is among the key support at 85.00 and the key resistance at 88.10.

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

Previous Report

Weekly Report

Support86.6085.9585.35 85.00 84.75 Resistance87.3087.7088.10 88.65 89.15 RecommendationBased on the charts and explanations above our opinion is selling the pair around 87.30 targeting 85.95 and stop loss above 88.10, might be appropriate.