The pair traded within a range after a sharp corrective decline from last week’s highs, with price trying to recover from the lower part of the recent structure. The broader H1 trend is still constructive, but for the daily horizon the market remains in a correction phase until buyers regain the upper resistance band.
Current price: 1.17532
Pivot: 1.17490
Nearest support levels: S1: 1.17380, S2: 1.17220, S3: 1.16980
Nearest resistance levels: R1: 1.17680, R2: 1.17860, R3: 1.18120
Note:
Above Pivot: If the price holds above 1.17490, recovery may extend toward 1.17680 and 1.17860, with 1.18120 as the next broad upside target for the day.
Below Pivot: If the pair slips back below 1.17490, corrective pressure may return toward 1.17380 and 1.17220, with 1.16980 as the next deeper downside objective.
