| Support | 1.4110 | 1.4070 | 1.4015 | 1.3970 | 1.3910 |
| Resistance | 1.4205 | 1.4250 | 1.4300 | 1.4365 | 1.4410 |
We can see that downside pressures are affecting the pair, which is currently stable below the 100 moving average near 38.2% Fibonacci correction at 1.4150 as shown on the secondary image. In fact, the upside trend is still valid in general, while we expect a downside movement during this week, which could support the pair to approach the upside trend’s main support at 1.3970, which represents the medium-term support shown in Red, but after that we expect the pair to start a new upside move.
The trading range for this week is among the major support at 1.3910 and the major resistance at 1.4455
The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.
