Yesterday's trading session for the pair was marked by another repeated test of the upper border of the channel in the area of 1.1722.
Despite the ensuing rollback, the proximity to the level still remains, so this key level is relevant for today.
Yesterday, after approaching the level of 1.1722, we’ve seen an expected rollback.
Probability of breakdown or false level breakdown is still significant.
In the long-term scenario, we expect a breakout of 1.1722 level. The pair will trade in the range to the next resistance level - 1.1850
Despite the ensuing rollback, the proximity to the level still remains, so this key level is relevant for today.
Yesterday, after approaching the level of 1.1722, we’ve seen an expected rollback.
Probability of breakdown or false level breakdown is still significant.
In the long-term scenario, we expect a breakout of 1.1722 level. The pair will trade in the range to the next resistance level - 1.1850