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Publish Date13/07/2012 11:23:40 AM
Stability below 96.90 is a clear indication that the pair remains biased to the downside and that might support the pair reach our targets in the previous reports and last the weekly target at 95.25. Despite our expectations that the pair might turn lower we still prefer to remain neutral for now due to the high risk to reward ratio at current levels.
The trading range for today is among key support at 95.25 and key resistance now at 98.60.
The general trend over short term basis is to the downside targeting 94.80 as far as areas of 123.30 remain intact.
|Recommendation||Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move|
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