The pair has been steady during the last sessions and moving inside a range between 89.15 and 89.60. The rupture of the lateral channel could trigger a rally in the direction of the break; but the pair usually does some false moves ahead of the opening in Asia, so it is better to wait for clear signals. To the downside, below 89.15 the pair could go to the zone between 88.90 and 89.00. To see further declines, is necessary for the pair to break below 88.85; which should trigger a bigger decline to test last week lows at 88.55. If pair reaches fresh lows it could fall further.
To the upside above 89.40 is probable to see the pair go quickly to 89.55. Above, between 89.85 and 90.00 pair has a congestion zone. A clear break of 90.05, should trigger an upside rally targeting initially 90.25; and then 90.55.
To the upside above 89.40 is probable to see the pair go quickly to 89.55. Above, between 89.85 and 90.00 pair has a congestion zone. A clear break of 90.05, should trigger an upside rally targeting initially 90.25; and then 90.55.
