The pair has been moving within a narrow range since the opening of this week’s trading … Although these moves have been below the ascending trend line shown on the chart, it is still supported by the SMA 50, which remains on the possible bullish scenario as long as trades remain above 109.75 and possible The pair will resume its first target at 110.90 then 111.70 as the second target and then 112.50 as the third target.
A break of 109.75 with a four-hour closing might be enough to end the bullish scenario and the price could then head to 109.10 as the first target and then 108.45 as the second target.
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