Midday Report

The pair resumed some bearish movement this morning in an attempt to unload some negative momentum appearing over four-hour basis above; therefore, the suggested morning scenario will prevail as long as we observe 84.90, where breaching it will fail the expected scenario for today.

The trading range for today is among the key support at 84.00 and the key resistance at 86.90.

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

Morning Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 85.70 targeting 86.90 and stop loss below 84.85, might be appropriate.