Remain flat | 05 April 2019

Technical observation

Yesterday USD rose to the zone 111.86-111.64 and is currently rallying within it. I expect either a rejection within it or a clear breakout above it. In case of a rejection within 111.86-111.64 sell USD within the zone with your take profit at 108.74 and stop loss at 112.44, however, should there be a clear breach above the zone, a surge to the upper side towards the key level 114.52 can be anticipated and you can buy USD after a correction to the just broken zone and a bounce within it. Right now as long as the pair on the daily chart above is contained below the zone 111.86-111.64, only downward movements can be expected.

Trade recommendation

Remain flat.