Pair’s trading stays neutral. Strong breach of medium term channel resistance will suggest that correction from 118.65 has finished at 107.31. Breach of 114.49 will point out bullishness and align a test on 118.65 level. Following pivot points include: (S1) 112.56; (P) 112.87; (R1) 113.15.

According to bearish divergence in 4 hour MACD, breach of 111.46 support will confirm rejection from the channel resistance and trading will turn up on the downside.

The increase from 98.97 is viewed as a part of corrective pattern from 125.85 and it’s resuming. If 114.49 resistance stands, medium term prognosis will remain bearish. Breach of 114.49 might head towards a repeat test on 125.85 maximum.