The pair declined recently to hit the bullish channel support level at 140.90, to settle without breaking this level until this moment.
We notice the stability of the moving average at the support level to keep the expectation positive if this level remained stable, while the price fluctuates between the support level and 142.50.
We must mention that breaking the support level will lead to form a bearish wave reaches 23.6% Fibonacci at 139.90.
Expected trading range is between 140.90 and 142.50
Expected trend: bullish if the support level remained intact