Morning Report

In the image above, the pair attempts to stabilize below the 23.6% Fibonacci retracement and the main support for the upside trend. RSI is trying to breach 40 to indicate more negative signs. Therefore, we expect a downside move for today provided that the pair doesn't close a hourly candle above 81.65.

The trading range for today is among the major support 79.00 and the major resistance 82.50.

The short term trend is to the downside with stability below 89.35 targeting 77.70

RecommendationBased on the charts and explanations above we recommend selling the pair around 80.75 targeting 79.00 and stop losses above 81.60 might be appropriate for today.