Mid-day report

The cable is nearly touching the retest level (currently inclining to 1.6210), where it is trading calmly until now. Our morning expectations remain intact, while we await touching the retesting level to begin the downside move overintraday basis for the rest of the day;it isimportantthat four-hourclosingsare below 1.6210, to maintain the chance for the downside move.

The trading range for today is among the key support at 1.5870 and the key resistance at 1.6555.

The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7100.

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.6200 To 1.6000 and stop loss above 1.6295, might be appropriate