Overview
Proceeding from the today's H4 chart, the pair is still trading between the Support level of 169.75 and the Resistance level 170.50 and currently the pair is approaching the Support level. If the pair bounces from it again to take an upward movement, it may continue its bullish trend and we will get a good opportunity to buy again above the Resistance level of 170.50 till closing 4H above the Resistance level of 171.50 as a level target. Then we should wait for breaking this Resistance level to continue the upward move and open the way towards the Resistance level of 172.00. On the other hand, if the pair managed to break the Support level of 169.75, it may take a downward trend, which will enable the Support level of 168.50.
Resistance and Support levels: R3 (172.00), R2(171.50), R1(170.50), S1 (169.75), S2 (168.50), S3(167.00).
