Overview
Today's H4 chart shows that the pair might take a new bullish signal after it opened above the 168.60 level at 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 169.25 trying to break it through to continue the bullish trend. Currently, the quote is trading below the resistance level of 169.25. 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 169.90, hence we should wait for more signals before making the decision.
Resistance and Support levels: R3 (169.90), R2(169.25), R1(168.60), S1 (167.40), S2 (166.25), S3(165.30).
