The pair still resides in the upper sector of the correction range. 1.5570/60 resistance is holding back bullish attacks, and trading is currently carried out at 1.5530/40 levels. Indicators are unclear, suggesting uncertainty. Earlier forecasts, expecting growth towards higher resistance at 1.5650 may confirm, although medium-term bearish positions are dominating. 1.5470 support breakout will be a signal for decline towards 1.5400 level, and then to local lows at 1.5280/1.5300.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst