We saw a new test of resistance at 1.6826, but no breakthrough is observed yet. Only a break above the resistance at 1.6826 will release the upside pressure and call for a continuation towards 141.06 and 144.03.
As long as the resistance at 1.6826 is able to protect the upside, we shall remain locked inside a range between 1.6554 and 1.6826, with risk of a larger range between 1.6374 and 1.6826.
We are long EUR from 1.6603 with stop at 1.6550. If you are not long yet, wait for a breakout above 1.6826 before buying EUR.
The material has been provided by InstaForex Company – www.instaforex.com