The pair is consolidating within a narrow sideways range, awaiting the release of US inflation data. Significant changes are expected if the consumer price index figures deviate from the consensus forecast. The market anticipates a slight decline in inflation, which could put local pressure on the pair.
Technical outlook and trading idea:
The price is above the middle line of the Bollinger Bands, above the SMA 5 and SMA 14. RSI is below the 50% level and rising.
If it drops below the lower boundary of the 1.3600-1.3645 range, the pair could fall to 1.3565.
