Currently, the quotes have broken above the resistance level at 92.35, indicating a potential consolidation above this level. The moving average is acting as support below the quotes. Therefore, we have the necessary support for the pair to continue its northern direction, with a possible target of the resistance at 93.00 at least. It's hard to say for sure whether it will overcome this level and continue further north, so we will have to wait and see. Regarding the southern path, it seems that the pair needs to drop back below the level and then move below the moving average again. This kind of pattern on the chart indicates a bearish sentiment for the pair. Wishing everyone profitable trades.
