The pair is still trapped within a very tight range since the opening of this week and it couldn't show any big move since yesterday. Despite being covered by SMA 50-colored in red- but it succeeded in stabilizing above 50% Fibonacci of the entire upside rally from 75.50 to 79.50. Furthermore, Stochastic is on its way to confirm a potential positive divergence; thus, the bullishness remains in favor over intraday basis so long as areas of 76.55 remain intact.
The trading range for today is among key support at 76.55 and key resistance now at 79.15.
The general trend over short term basis is to the upside, targeting 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 77.60 targeting 79.55 and stop loss below 76.65 might be appropriate.|