The pair has been steadily and gradually escalating higher since the 14th of August, 2015, from as low as 0.6513 to as high as 0.6646.
The price has lately stabilized below the 0.6646 zone with some considerable bearish pressures noticed. In the scenario where the pair remains under 0.6646 and thereafter breaks below the 0.6614 level it could drop to 0.6565 and 0.6513 respectively.
Alternatively, in the event where the price breaks above the 0.6646 level, the pair could resume rising to 0.6734.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.