Morning Report

The pair continues its bearish direction yesterday supported by stability below pivotal support 84.85, alongside trading belowSMA 50; therefore, we can expect a bearish intraday direction targeting initially reaching support for the bearish short term direction around 83.10. We point out that building a base above 84.85 will postpone resuming bearish targets.

The trading range for today is among the key support at 82.55 and the key resistance at 85.75.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 84.85 targeting 83.50 and stop loss above 85.70, might be appropriate.