Overview
Today's H4 chart shows that the pair might take a new bullish signal after it opened above the 157.45 level with the beginning of the current week, as it was expected. Today the pair took an upward movement and managed to reach the resistance level of 158.20 trying to break it through to continue the bullish trend. Currently, the pair is still trading around the Resistance level. More bullish signals are still expected in case of closing above this resistance level with the first target placed few pips below the resistance level of 159.00, hence we should wait for more signals before making the decision.
Resistance and support levels: R3 (159.45) R2 (159.00) R1 (158.20), S1 (157.45), S2 (156.70), S3 (156.00).
