1.0680/90 resistance level is holding back the "bullish" attempts to breach 1.0700/20 target, mentioned in the previous analysis. The price now resides at 1.0660/70 level. Indicators are less "bullish", MACD divergence suggests a possible reversal down. Therefore, we expect the pair either to decline or, worst case, to trade within 1.0680/90 – 1.0500/10 range. It's worth noting, that before pulling back down, the "bulls" may attempt to continue growth and test  1.0700/20 level. Decline below 1.0500 level will be a signal for reversal.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst