The pair’s price failed to reach the resistance barrier near 217.85, while it is currently reacting to the attempt of the Stochastic indicator to exit the overbought zone, forcing the pair to move in mixed sideways trading and fluctuate around 216.75.

 

We emphasize the importance of maintaining trading above 216.35 during the current period, as this would allow the pair to renew its bullish attempts and push toward the aforementioned resistance barrier. A breakout above this level would confirm its transition into a new positive phase, extending the move directly toward 218.35 and 218.65. On the other hand, slipping below 216.35 would force the pair to activate the bearish corrective scenario, targeting 215.55 initially.

 

The expected trading range for today is between 216.50 and 217.85

 

Trend forecast: Bullish