The pair has been recently oscillating between the range of 193.78 and 193.55 after the powerful upside move that was initiated since the 29th of July, 2015.
The bearish pressures at 193.78 and 193.55 became more tensed and therefore in the scenario where the price breaks below 193.55, the pair could decelerate as low as 192.55 and 191.59 respectively.
Alternatively, in the event where the bulls resume their upside pressures and the price breaks above the 193.78 level, the pair could appreciate as high as 195.19.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.