According to Valeria Bednarik, chief analyst FXStreet.com: "In the 4 hour chart the pair continues with a slightly bearish bias, trading below its simple moving averages of 20 and 100 while the indicators are moving in negative territory. I still think there is range for some time between 79.00 and 80.00. "
Presently, the cross has stabilized in the region of 79.34, falling at a rate of -0.12% below its opening price. The technical analysts at Mataf.net confirm the next short-term supports at 79.15, 79.01, and finally 78.81. On the upside, a penetration of 79.49 will expose the resistances of 79.69 and then 79.84.