The pair fluctuates within tight range since morning and hovers around 1.3670, and it remains stuck between the next intraday trend keys which are represented by 1.3620 support and 1.3690 resistance.

Therefore, our neutral attitude will remain valid until now, and to recognize the expected targets from breaching the mentioned levels, please take a look at our morning report.

Expected trading range for today is between: 1.3560 support and 1.3805 resistance.

Expected trend for today: Depends on the above mentioned levels

Over daily basis, we can see that the pair is trading within the downside correctional wave since recording the medium-term top at 0.8813; this bearish move is confined within a huge Falling Wedge. Also, we can see on graph a smaller timeframe another Falling Wedge as the pair is currently trading above its resistance –secondary graph- which supports positivity over the coming period initially targeting 0.8400 areas. Therefore, we expect the pair to move to the upside as far as 0.8200 area holds

The pair failed to breach 143.15 to turn lower, breaking 142.25 once again. This opens way for the downside correctional bias eying 140.15 supported by stability below the MA 50 & 100. The downside move is valid today however a breach of 142.25 will push the pair again to the upside in an attempt to breach 143.15 a breach of which will revive the uptrend.

The pair broke the support of the ascending channel and approaching the main support at 170.00, a break of which will confirm the intraday and short-term bearish trend. We also have signs of a Double Top that will be confirmed with the break of the aforementioned support. On the other end, momentum indicators offer positive signals that might protect the pair from further bearishness and accordingly our weekly outlook for now remains neutral to observe the pair around the critical 170.00 support and 171.95 resistance.