Morning Report

The pair breached the minor upside channel's support with a daily closing as shown above on the chart. This indicates a possible intraday downside move for today, targeting the critical support at 79.65. The MA 50 supports the proposed decline, while the pair should consolidate below 80.75 for our expectations to remain valid.

The trading range for today is among the major support at 78.20 and the major resistance at 81.00.

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

Weekly Report

Previous report

Support79.6579.0078.2077.7077.00
Resistance80.4581.0081.5081.7582.20
RecommendationBased on the charts and explanations above our opinion is selling the pair around 80.45 targeting 79.00 and stop loss above 81.50 might be appropriate