Midday Report

After nearly reaching 143.30 the pair resumed declining forming a bearish pattern supporting the possibility for the downside move to continue today towards the proposed target and despite consolidating around 142.00; yet trading below the 50 Hours MA confirms the continued downside pressures from the bearish pattern.

The trading range for today is among key support at 136.05 and key resistance at 147.40.

The general trend is to the downside as far as 167.40 remains intact with target at 116.00.

RecommendationOur morning expectations remain valid