Today, we will look at the four-hour time scale where we can notice that the pair is finding good support at 77.80 zones. The trading range is very tight and that may cause a price explosion. Anyway, we look forward to a new technical attempt to maintain levels above 78.80 to make sure that 79.55 will fall. Ultimately, areas between 76.80-76.40 should hold to protect our positive scenario.
The trading range for today is among key support at 76.10 and key resistance now at 82.25.
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, buying the pair around 77.90 targeting 80.05 and stop loss below 76.40 might be appropriate.|