The pair has continued to form weak sideways trades so far, amid ongoing conflicting signals from the main indicators, currently fluctuating near 176.25 and moving away from support at 174.90, which represents the key level for confirming the continuation of the bearish trend in the upcoming period.

 

The price may manage to achieve some intraday gains; however, its repeated stability below the additional resistance barrier at 177.80 keeps us committed to our bearish outlook for the coming trades. On the other hand, breaking above this barrier and holding above it would increase the chances of further gains toward 178.50 and 179.10.

 

The expected trading range for today is between 175.70 and 176.85

 

Trend forecast: Fluctuating