Morning Report

The pair stabilized above broken resistance for the third consecutive day, which makes us expect more bullish intraday movement depending on the highlighted breach. The factors required to resume the upside are represented in the breach of 84.00, alongside stability above 82.35, while expected targets start around 86.00.

The trading range for today is among the key support at 82.35 and the key resistance at 86.00.

The short term trend is to the downside as far as 89.35 remains intact with targets at 77.70.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is buying the pair with an hourly closing above 84.00 targeting 86.00 and stop loss below 83.00, might be appropriate.