Morning Report

The bearish tendency on RSI 14 becomes clearer influenced by yesterday's decline, while Vortex started to reflect weakness as seen on the provided daily chart. Those technical signs from momentum and trend indicators may assist the pair to move lower over intraday basis. The support zones around 81.50 are currently targeted to take momentum indicators towards oversold areas. On the upside, the significant high of 84.15 should be the ceiling for intraday traders.

The trading range for today is among key support at 81.50 and key resistance now at 84.15.

The general trend over short term basis is to the upsidetargeting 87.45 as far as areas of 75.20 remain intact.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, selling the pair around 82.90 targeting 81.50 and stop loss above 84.00 might be appropriate.