The pair’s lack of positive momentum has led to some intraday bearish trading, with the price retesting the initial support level at 176.15 before holding above it, seeking to confirm its commitment to the bullish corrective scenario.

 

The price currently needs fresh positive momentum to facilitate a move toward the bullish targets, initially advancing toward 177.40 before attempting to renew pressure on the resistance level at 178.10. However, a break below the current support and sustained trading beneath it would force the pair into strong bearish trading, potentially driving it toward 175.50 and then testing support near 174.90.

 

The expected trading range for today is between 176.40 and 178.10.

 

Trend forecast: Bullish