currency pair appears to be locked in an indecisive range between 79.606 & 77.753 cluster zones. Our outlook is neutral at the moment but might provide opportunities for range traders. Current price action warrants further observation in candle behavior as a daily close that completely engulfs previous day's candle (reverse hanging man
) or a daily close near its terminus, might open up opportunities to the bottom of the range at 77.753 cluster zone.
However on the upside, a daily close above 79.606 cluster resistance zone
should provide a healthy target focus on 82.272 over several weeks of bullish