Morning Report

The pair has achieved one more daily closing inside our detected sideways range as seen on the graph; whilst the contradiction between oversold sign of Stochastic and the bearish sign of Vortex continues. Thereby, we are forced to watch the price behavior for the fourth consecutive day; noting that a break of yesterday's low at 75.70 will bring an aggressive bearish wave. Conversely, a breakout above 76.40 may send the pair higher towards 77.20 zones, followed by 77.70.

The trading range for today is among key support at 74.50 and key resistance now at 77.60.

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

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Weekly Report

Support75.8075.6075.2574.9074.50
Resistance76.6076.4076.9577.2077.60
RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable technical setup presents itself to pinpoint the next big move.