The pair ended its latest bullish corrective rally with another close below the additional resistance level at 178.10, forcing it to form negative waves and currently stabilize near 177.15.

 

Repeated stability below this additional resistance will increase the chances of further bearish waves, targeting 176.40, followed by 175.75. However, breaching this barrier and holding above it will confirm the pair’s commitment to the bullish corrective path, opening the way for further gains toward 178.65 and 179.25.

 

The expected trading range for today is between 176.40 and 178.10

 

Trend forecast: Bearish