The pair has maintained its stability below the additional resistance barrier at 177.80, reaffirming its commitment to the previously suggested bearish scenario. The current sideways movement reflects continued conflicting signals from the main technical indicators. We therefore await further negative momentum to help the pair resume its bearish waves, targeting 176.35 and 175.75.

 

Conversely, a break above the current barrier and sustained trading above it would give the pair an opportunity to recover further losses, by rising gradually toward 178.60 and 179.40.

 

The expected trading range for today is between 176.35 and 177.80

 

Trend forecast: Bearish