The pair’s trading remained limited below 82.65 levels with four-hour closing as shown on the chart. The possibility of a bearish move remains valid with stability below 83.35 as the pair might be forming a harmonic formation. RSI is trading negatively and Stochastic provided a negative crossover close to 70 levels supporting the negative outlook.
The trading range for this week is among key support at 79.80 and key resistance at 84.15 .
The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860 .
Support 82.25 82.00 81.60 81.00 80.65
Resistance 82.65 82.80 83.00 83.35 83.55
Recommendation Based on the charts and explanations above, our opinion is selling the pair below 82.40 targeting 82.00, 81.60 then 80.65 and stop-loss with four-hour closing above 83.35 might be appropriate this week