Morning Report

The pair is maintaining stability above 80.7 where the MA 50 and the negativity on Stochastic support the resistance. Therefore, we expect a downside move today targeting areas at 79.00 and breaching 79.65 will accelerate the move and activate the suggested scenario.

The trading range for today is among the major support at 78.00 and the major resistance at 81.40.

The short-term trend is to the downside as far as 89.35 remains intact with targets at 77.70.

Previous Report

Weekly Report

Support79.6579.2579.0078.4078.00
Resistance80.7581.4082.0082.5083.10
RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 79.65 targeting 78.00 and stop loss above 80.75 might be appropriate