Morning Report

The MA 50 is protecting yesterday's retest level shown around 82.30, alongside stochastic heading to the downside and thereby making us hold onto the expected bearish intraday direction. In overall, intraday trading will start key targets at 80.35 as we point out the importance of building a base below 82.30 to insure the validity of these targets.

The trading range for today is among the key support at 80.35 and the key resistance at 83.15.

The short term trend is to the downside as far as 89.35 remains intact with targets at 77.70.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 82.30 targeting 80.35 and stop loss above 83.15, might be appropriate.