Morning Report

The pair supports the MA 50 pushing it to fluctuate around the bearish trend's resistance that has moved to the downside towards 83.20. Stochastic is showing positivity and remain positively fluctuating, but since trading is stable below the bearish direction's resistance we expect a bearish trend over an intraday basis; starting targets 81.05. Building a base below 83.20 is vital to resume these expectations.

The trading range for today is among the key support at 81.05 and the key resistance at 84.25.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is selling the pair around 83.20 targeting 81.95 and stop loss above 84.25, might be appropriate.