The secondary image is over weekly basis and it is interpreting the indecision case since the beginning of the week until now. Having a look at yesterday's closing, we will find that the pair has closed again around the lower edge of our caught sideways range. At the same time, the contrarian between momentum and trend indicators continues on the graph. Thereby, we are forced to hold onto our neutral stance; noting that a break of yesterday's low at 75.70 will trigger 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 upsidetargeting 87.45 as far as areas of 75.20 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, staying aside until an actionable technical setup presents itself to pinpoint the next big move.|