The pair has stabilized since the 11th of August, 2015 between the range of 138.38 and 138.66, today’s two major zones.
The latest stabilization though could give sellers the upper hand over the buyers and therefore take control over the price. In the scenario where the pair breaks below the 138.38 level, the price could decelerate to 137.81 and 137.44 respectively.
In contrast, in the event where the price breaks above the 138.66 zone, the pair could resume escalating even higher to 139.49.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.