Morning Report

The pair maintained stability below the retesting level of81.80, shielded by SMA as witnessed in the image above. These factors along with major overbought signs appearing on Stochastic make us expect a bearish intraday direction starting technical targets around 80.60 then 80.00, while requiring stability below 82.55 to prevail.

The trading range for today is among the key support at 80.00 and the key resistance at 82.55.

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 81.80 targeting 80.60 and stop loss above 82.55, might be appropriate.