The bearish divergence on momentum indicators turned to be reliable, as the pair fell to breach the short term ascending trend line(dashed line) in an attempt to test the main support region and the another trend line around 80.00 mark. Therefore, we expect the bullishness to resume from this key technical support
The trading range for the day is expectedamong key support at 80.00 and key resistance now at 83.00.
The general trend over short term basis is to theupsidetargeting87.45as far as areas of75.20remain intact.
|Recommendation||Based on the charts and explanations above we recommend, buying the pair above 79.60 targeting 81.50 and 84.00. Stop loss below 79.00.|