The pair continues to move without a clear directional bias for a few weeks now and it is difficult to build any strategy for the time being.
It remains well capped by its daily descending trendline near 1,44. Yesterday, we did see the market failing once again below this resistance. A break above this level would expose 1,45 (daily bollinger band).
On the downside, we keep a close on the 1,4050 support from August 4. A break below this support could expose 1,39 corresponding to a long term ascending trendline.
We will remain on the sidelines until a clear trend emerges.
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