© Dukascopy Bank SA
Currently, the pair is hovering near the lower trend-line, thus a bearish break-out could be more actual. Moreover, for rising wedge pattern a break-out to the downside is more common. However, technical studies are neutral, with only the daily ones pointing to the upside. Therefore, we are recommending to gauge pair's future development by its near-term performance. If the pair breaches the cluster of resistances around 139 level then an advance could follow.
© Dukascopy Bank SA