Morning Report

Despite yesterday's closing below the MA 50, but positivity can be seen this morning on the pair, where the pair currently surpassed the MA 50, which could be a sign to retest the ascending channel's resistance shown above. Therefore, we favor observing the pair around the sensitive levels at 81.50 resistance and the 80.25 support.

The trading range for today is among the major support at 79.65 and the major resistance at 82.00.

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 we recommend observing trading today awaiting more confirmations.