Morning Report

The pair is still correcting the sharp incline occurred on past Thursday as seen on the provided graph. Actually, the pair didn'tattack the important low of the aforesaid Thursday's candlestick formation until now; thus, we classify the price behaviors as correction that may assist the pair to re-attack 23.6% and may be 38.2% Fibonacci of the downside rally from 85.50 to 76.25. In the interim, the combination of SMA 20 and SMA 50 cover the pair; therefore, we will be neutral today until an actionable setup presents itself to pinpoint the next move.

The trading range for today is among key support at 75.25 and key resistance now at 79.55.

The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 76.40 remain intact.

Previous Report

Weekly Report

Support77.1076.4576.2575.2574.80
Resistance77.9078.4579.1579.5580.00
RecommendationBased on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.