Morning Report

The pair didn't show any big move since yesterday, but we can notice that Stochastic was relieved successfully as seen on the provided four-hour chart. Hence, we hold onto our bullish predictions over intraday basis, supported by stability above SMA 50 and SMA 100. A break of 78.30 will actuate bulls to enter the market. Conversely, breaching through 76.40 will negate the bullish outlook.

The trading range for today is among key support at 76.10 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.

Previous Report

Weekly Report

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 77.65 targeting 79.55 and stop loss below 76.40 might be appropriate.