Morning Report

The pair continues its stability below the descending trend's resistance level that has currently moved downwards towards 82.70, while remaining below the MA 50; therefore, we expect to witness more bearish intraday movement targeting 81.05 - 80.80, while constantly reminding of the daily closing below 82.70 in order for chances for these expectations to prevail.

The trading range for today is among the key support at 80.35 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

Support81.8081.0580.8080.3579.60
Resistance82.7083.2083.7084.2585.00
RecommendationBased on the charts and explanations above our opinion is selling the pair around 82.70 targeting 81.05 and stop loss above 83.70, might be appropriate.