The pair confirmed its continued surrender to the bearish scenario, amid several negative factors, including the alignment of the main indicators in signaling negative momentum, along with repeated stability below the initial resistance barrier at 179.45. The price is currently posting further losses, trading near 176.80 and approaching the first target anticipated in the previous report.

 

Continued bearish pressure would increase the chances of a renewed downward move in the near term, with the price likely to test 175.75. A break below this level would pave the way toward the next main target at 174.95.

 

The expected trading range for today is between 175 and 177.40

 

Trend forecast: Bearish