The currency pair is being traded in a range between 2 option barriers. 1.6232 is currently acting as the resistance line while the support line is located at 1.6074. The expected volatility remains high.
Today’s news blocks are not so rich in significant economic reports.
If the price comes out of the existing price range, 1.6327 and 1.5999 will become the new resistance and support levels correspondingly.
As the expected volatility value is overheated we recommend abstaining from volatility purchases during the period as the probability of a significant volatility decline is fairly high.
Provided by the Department of Options,
