Morning Report

The pair is still moving within a sideways trading range where the struggle continues around SMA 20 as seen on the provided four-hour chart. There is no clear sign on momentum and oscillators indicators; thus, the neutrality is favored over intraday basis. Note that a break above 76.95 will activate the numerously explained Elliott sequence, while a breakout below 75.80 will damage it completely.

The trading range for today is among key support at 75.25 and key resistance now at 77.90.

The general trend over short term basis is to the upsidetargeting 87.45 as far as areas of 75.20 remain intact.

Previous Report

Weekly Report

Support76.1075.8075.6075.4575.25
Resistance76.6076.7576.9577.2077.60
RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.