Near-term tone is neutral as the pair is holding within narrow consolidation range.
Larger picture, however, remains bullish as rising 20SMA contained pullback from upside rejection at 0.7739, keeping overall bullish bias in play.
Recent repeated failures to clearly break above 0.7700 barrier suggest that the pair may spend some more time in consolidation, before larger bulls resume.
Lift above 0.7700/39 triggers is needed to open target at 0.7776 (08 Nov 2016 high).
Meantime, 20SMA is expected to ideally contain and underpin the action, however, extended dips should be contained by daily Kijun-sen (Currently at 0.7624) to prevent generating stronger reversal signals that could emerge on loss of 0.7624/00 triggers.
Res: 0.7685, 0.7705, 0.7739, 0.7758
Sup: 0.7664, 0.7624, 0.7600, 0.7575
