The currency pair is currently oscillating between the range of 137.10 and 136.74, today’s two major levels.
The bullish pressures that resumed since the 24th of July, 2015 have started now losing momentum at 137.10. In the scenario where the pair stabilizes below 137.10 and breaks once again lower than 136.74, the price could decelerate to 136.13 and 135.72 respectively.
Alternatively though, in the event where the price breaks above 137.10, the pair could escalate as high as 137.87.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.