Morning Report

The pair succeeded in achieving one more positive closing above the pivotal level of 76.75 as seen on the provided daily graph. It seems that there will be a chance for drawing a double bottom and of course, it is too early to suggest this classical probability, but we will rely on the RSI 14 alongside the solidity of the support to propose upside wave. Our overview will not be confirmed unless the pair breaches through 77.40 zones. Meanwhile, areas of 76.25-76.00 should protect theclassical bullish outlook.

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

RecommendationBased on the charts and explanations above our opinion is, buying the pair above 77.40 targeting 79.55 and stop loss below 76.00 might be appropriate.