Not aggressively bullish, but a still positive tone Monday through .7843/5 barriers to maintain positive pressures early this week, further reinforcing the reversal above the down trend line from October 2014.
We see upside risk in the very near term, but within the context of a short/ intermediate-term range theme.
We see an upside bias for 7884; break here aims for .7905, but we would look for the .7938 peak to try to cap.
But below .7790 aims through .7761 and opens risk down to .7707/02, which we would look to try to hold.
Short/ Intermediate-term Range Parameters: We see the range defined by .7938 and .7533.
Range Breakout Challenge
Upside: Above .7938 aims higher for .8027/62 and .8224/34.
Downside: Below .7533 sees risk lower for .7500 and .7267.
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