The monthly chart of the pair has traded in a channel since 1st of June 2016. The price action has remained between 0.82783 (fib 0%) and 0.90887 (fib 78.6%) with a major support at 0.86703 (fib 38.2%). With the price currently trading close to the resistance level at fib level 78.6%, there is a high probability of a reversal in the bullish trend.