Morning Report

The pair is narrow traded yesterday belowSMA 50 levels, therefore the suggested scenario in our previous reports is still valid, where a bearish intraday direction is projected, supported by negative signs from Stochastic . Initial targets can be found near 83.00 - 82.70, while the short-term descending trend is dependable on a daily closing below 85.40.

The trading range for today is among the major support at 82.70 and the major resistance at 85.40.

The short term trend is to the downside as far as 91.55 is intact with targets at 79.60.

Previous Report

Weekly Report

Support83.8583.3082.7082.0081.60
Resistance84.5584.8585.4086.3586.90
RecommendationBased on the charts and explanations above our opinion is selling the pair around 84.55 targeting 83.30 and stop loss above 85.40 might be appropriate