1.0700/20 resistance level is holding back the "bullish" attempts to growth. The price reached 1.0740/50 level and is now retracing back down. Earlier forecasts, anticipating range trading, confirmed, although consolidation range's support was found higher, than expected, around 1.0690/80 level. Having tested this support, the price has recently retraced to 1.0700/20 resistance. Indicators are unclear, MACD devergence suggests to anticipate a pullback down. Therefore it's worth holding and waiting until either 1.0680/90 support is breached (in this case the price will drop to 1.0500/10 support, mentioned before ) or trades hold above 1.0700/20, indicating strong "bullish" trend and suggesting further growth to 1.0990/1.1000 resistance.

Analysis prepared by:

Arkady Nagiev
Forex4you analyst