Despite the weakness in the pair’s recent trading, posting further negative closes below the 217.85 barrier supports the continuation of the previously suggested bearish corrective bias. The price has once again slipped below the 216.35 level, signaling its readiness to resume the previously proposed corrective decline.

 

Moreover, stochastic is providing negative momentum while stabilizing near the 20 level, reinforcing the chances of the price targeting the upcoming corrective levels around 215.55 and 214.95, respectively.

 

The expected trading range for today is between 214.95 and 216.50

 

Trend forecast: Bearish