Morning Report

The pair is stabilizing above the descending channel's breached resistance mentioned in our previous reports, which signals the resumption of the current upside correction. We expect the pair to continue the intraday bullishness today that requires the clear breach of 81.75 and stability above 80.45.

The trading range for today is among the major support at 79.80 and the major resistance at 83.50.

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

Previous Report

Weekly Report

Support80.7580.4580.0579.8079.00
Resistance81.7582.5083.0083.5083.90
RecommendationBased on the charts and explanations above our opinion is buying the pair with hourly closing above 81.75 targeting 83.50 and stop loss below 80.45 might be appropriate