The pair is at the moment oscillating slightly above the 192.03 level, today’s probable bearish zone, and below the potential bullish break out zone 192.71.
Due to the latest weakness of the price to escalate, in the scenario where the sellers take advantage of the 192.03 level they could aggresively force the pair as low as 190.43.
In contrast, in the event where the buyers switch the expectations for a downstrend scenario and retrace the price to the upside they could lead the pair as high as 193.63.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.