Despite the weakness in the pair’s trading yesterday, its repeated stability above the additional support level at 216.35 continues to support the bullish outlook. This morning, the pair has formed some positive waves, approaching the previously suggested first target at 217.35.

 

The price currently has little choice but to resume its bullish attempts, given that the main momentum indicators continue to provide positive signals. We expect the pair to be drawn soon toward the intraday barrier near 217.85, which represents the key level for determining the upcoming short- and medium-term targets.

 

A successful break above this barrier would open the way for further gains, potentially extending toward 218.65. On the other hand, failure to break through it would increase the chances of activating a bearish corrective path, pushing the price to break below 216.35 and head directly toward 215.55.

 

The expected trading range for today is between 216.50 and 217.85

 

Trend forecast: Bullish