The pair has moved slightly downwards achieving four-hour closing below SMA 50 and SMA 100 as seen on the provided four-hour graph. But, RSI 14 continues approaching the oversold areas; whilst traders are currently facing a solid support zone. Thereby, we prefer staying aside until the pair proves its ability to clear 78.10-78.30 zones once again as we discussed in our weekly report. On the other hand, breaching through 76.60 will damage the bullish possibility.
The trading range for today is among key support at 76.60 and key resistance now at 78.80.
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 today until an actionable setup presents itself to pinpoint the intraday direction.|