After breaching the channel support and the retest around 103.30, the pair stabilizes positively until now, but without reaching the initial resistance level around 104.60
More positivity is expected during the near and medium term by stabilizing above 103.30 which might assist in breaching 104.60 and extends to reach 105.50 followed by 108.30 during the upcoming period.
The moving average supports the bullish bias by stabilizing around the main support, while Stochastic is inside the overbought levels, that makes us expect slight correction on the price.
Expected trading range for today is between: 102.90 and 104.50
Expected trend for today: Bullish