The pair continued its corrective upward trading, reaching the resistance level at 211.20 and settling below it. We highlight the importance of monitoring price action at this stage and waiting for the close of the next four-hour candle to confirm the expected direction for the upcoming trading sessions.

 

Continued trading below the current resistance would increase the chances of renewed bearish attempts, with initial targets at 210.30 and 209.60, breaking above the resistance and holding there would give the pair an opportunity to launch a fresh bullish move, initially targeting 212.00 and 212.65.

 

The expected trading range for today is between 210.30 and 211.40

 

Trend forecast: Neutral