The pair maintained its stability above the support level at 174.90, resisting negative pressure and forming upward corrective waves that brought it to around 176.05. The price may continue its corrective trading, but repeated stability below the additional resistance barrier near 177.80 prompts us to maintain our bearish outlook.

 

We expect the pair to renew its attempts to test the 174.90 level. A break below this support would open the way for further declines toward 174.55 and 173.95.

 

 

The expected trading range for today is between 175.00 and 176.55

 

Trend forecast: Fluctuating