The currency pair has been oscillating recently in a swing mode formation between the range of 1.6815 and 1.6596, a major resistance and support zone respectively.
The bearish pressures seem to be more tensed and therefore the sellers could likely force the price lower, after a successful break below the 1.6669, to 1.6596 and 1.6477 respectively.
Alternatively, in the event where the pair breaks above 1.6690, the price could escalate as high as 1.6815.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.