Morning Report

The pair is attacking the minor descending channel's support level currently around 82.15, while the MA 50 continues negatively pressuring the pair. This encourages us to expect to maintain the bearish intraday direction starting targets at 81.05. Note the breach of the mentioned support level, which will help the bearish trend gain speed and make the pair's mission to move to the downside easier.

The trading range for today is among the key support at 80.80 and the key resistance at 82.90.

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 82.65 targeting 81.05 and stop loss above 83.70, might be appropriate.