The pair took advantage of Stochastic providing additional positive momentum, with the price making an intraday attempt to break above the 210.40 barrier and touching 210.95, bringing it closer to the key resistance level at 211.20.

 

The price is currently attempting to renew its corrective upside moves while holding above 210.40, increasing the chances of reaching the key resistance level. A break above this barrier would confirm a shift into a bullish trend, paving the way for significant gains that could initially start at 212.00. However, holding below this barrier would push the price to form new bearish waves, forcing it lower toward 209.50 and 208.90.

 

The expected trading range for today is between 209.80 and 211.20.

 

Trend forecast: Bullish