Morning Report

The pair has achieved an aggressive attempt to breach through SMA 100 adopting a favorable reaction to our yesterday's caught bullish crossover that appeared on Stochastic but it failed. Now, we can see Stochastic moving to the oversold areas again; whilst RSI 14 is valued at 50.00 suggesting that we may witness a new technical attempt to clear areas between 77.30-77.60 once more. Overall, our bullish anticipations remain intact over intraday basis so long as area between 76.10 and 75.80 remain intact.

The trading range for today is among key support at 75.80 and key resistance now at 79.55.

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

RecommendationBased on the charts and explanations above our opinion is, buying the pair above 77.15 targeting 78.80 and stop loss below 75.80 might be appropriate.