Morning Report

The pair was able to breach pivotal support 85.95 paving the way towards activating yesterday's suggested scenario. The expected retest for the level is followed by resuming the bearish intraday direction, where its targets start at 84.00. This bearish trend requires the four-hour candlestick to stabilize below 86.55.

The trading range for today is among the key support at 84.00 and the key resistance at 86.85.

The short term trend is to the downside as far as 91.55 remains intact with targets at 82.60.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 85.95 targeting 85.00 and stop loss above 86.55, might be appropriate.