Morning Report

The pair stabilized below the bearish trend's resistance level, while noting that yesterday's trading closed below this level and is currently descending towards 82.35. These factors, alongside the bearish trend for the stochastic remind us of the importance of daily stability being below 82.35 so that it may prevail.

The trading range for today is among the key support at 80.35 and the key resistance at 83.70.

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 82.35 targeting 81.05 and stop loss above 83.20, might be appropriate.