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Intraday bias remains neutral to bullish on the pair and we will get bullish confirmation once pair trade and settles above 80.43 level in short term, then only we may say that trend has been shifted from downward to upward. Presently moving averages are overlapping with each other due to that we are unable to get interpretation for the time being.
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On the daily chart we can see that overall stock was making successively lower lows and lower highs but after making a low of 80.49 level it could not sustain and we have seen counter attack from bull’s campaign. Well pair is still hovering between the range of 80.49 to 84.15 level in short term. Traders and investors are not ready to take the decision that is this short recovery or trend has changed?
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