The pair succumbed to positive pressure during yesterday’s trading, surging toward 178.45 before returning to fluctuate near the resistance level at 178.10 to gather additional positive momentum.

 

We emphasize the importance of waiting for confirmation of a breakout above current resistance, which would pave the way for further gains toward 178.70 and 179.25, respectively. However, a renewed bearish move would require the price to first decline toward 176.40, followed by an attempt to reach the support level at 174.95.

 

The expected trading range for today is between 177.00 and 178.70

 

Trend forecast: Bullish