The pair’s price maintained its position below the firm resistance at 215.50 during yesterday’s trading, forcing it to form several corrective waves by targeting the 213.15 level, before attempting to stabilize again above the initial support level located at 213.50.

 

The proposed scenario for today’s trading depends on the strength of the initial support. Holding above it will give the price an opportunity to renew the bullish attempts and reach some positive targets starting from 214.50 and 215.10 respectively. However, closing negatively below it will strengthen the dominance of the downward corrective bias, forcing the price to incur additional losses by moving toward 212.75 and 212.00 respectively.

 

 

The expected trading range for today is between 213.50 and 215.10

 

Trend forecast: Bullish