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Narrow-range sideways trades tended to be positive, as the pair began attacking the psychological barrier of 1.3800, recording the highest at 1.3810.
On the technical side, we notice a contradiction between the technical signals, and we find the 50-day moving average trying to push the price to the upside, while the stochastic indicator is trading around the overbought stage.
With the conflict of technical signals, you will stand on the fence for a moment until the direction becomes clearer in a more accurate so that we are waiting for one of the following scenarios:
To get a bullish trend, we need to witness a clear breach of 1.3800/1.3810 resistance, which is a catalyst that strengthens the bullish chances to visit 1.3845, a first target, and then 1.3880.
Activating short positions requires breaking 1.3750, and from here we are witnessing downside moves that target 1.3700 and may extend later to re-test 1.3675.
| S1: 1.3750 | R1: 1.3810 |
| S2: 1.3700 | R2: 1.3845 |
| S3: 1.3675 | R3: 1.3880 |
