Morning Report

With a long tail for yesterday's candlestick, the pair achieved some kind of rebound from the initial support areas of 76.25-76.30 as seen on the provided graph. At the same time, the contrarian between momentum indicator-RSI 14- and trend indicator-AROON- forces us to stay aside over intraday basisuntil an actionable set up presents itself. Carefully note that, a break of 77.45 zones may fix the sign appearing on AROON, while RSI is preparing for an upside move. Conversely, breaching the significant low of 76.25 will damage the chances of achieving upside recovery.

The trading range for today is among key support at 74.25 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.

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Weekly Report

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