Morning Report

The pair continues fluctuating above the previous broken resistance of 81.50 -turned into support- as seen on the provided daily chart. Our graph shows that momentum indicators are in a real need for some kind of relief; accordingly, we may witness more fluctuation and may be more downside correction before resuming the bullishness supported by the bigger time frames discussed in our weekly report. A breach above 82.50 will weaken 83.20 zones and will clear the path towards 84.00 areas followed by 85.50 over upcoming sessions.

The trading range for today is among key support at 81.25 and key resistance now at 83.30.

The general trend over short term basis is to the upsidetargeting 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 81.75 targeting 83.50 and stop loss below 80.50 might be appropriate.