Overview
Today's H4 chart shows, as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the resistance level of 159.00 after it was tested yesterday. Today the pair has taken an upward movement and managed to break the strong resistance area of 159.00-159.50 keeping its move above the upward trend line. Currently, the price is testing the resistance level of 159.50 trying to break it through to continue the bullish movement. More bullish signals are still expected in case of closing above this Resistance level with first target few pips below the resistance level of 160.00; hence we should wait for more confirmations before making a decision.
Resistance and support levels: R3 (160.40), R2 (160.00), R1(159.50), S1 (159.00), S2 (158.15), S3 (157.60).