The pair achieved a clear collapse to reach the waited level around 117.80 surpassing this level to accomplish 117.50, to settle generally inside the breached bullish channel at 118.30
The price is approaching currently from 50% Fibonacci at 116.90 to form a support against the price decline to make us expect the limitation of the price within the channel, among the resistance level 118.30 and the moving average at 115.20.
Expected trading range is between 118.30 and 115.20
Expected trend: bearish