Morning Report

The pair is presently hovering around SMA 20 -colored in green- inside the previous detected two month sideways range as seen on the provided daily graph. That is why we need to witness a breakout above77.20and preferably above77.70to make sure that the pair succeeded in beating the continuous conflicting signs on the chart.A break below 75.80 zones will damage any bullish possibility during the upcoming sessions.

The trading range for today is among key support at 75.25 and key resistance now at 78.45.

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

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair above 77.20 targeting 79.55 and stop loss below 75.80 might be appropriate.