During the previous trading day, nothing much happened on this pair. Acccording to the daily chart, we are above a significant resistance level 110.665. As long as the price remains above this level, we expect nothing but a possible momentum to the upperside, the idea is to wait for a possible momentum to the uppperside. If the price pulls back to the lowerside, then further momentum to the upperside is expoected. And on the flipside, a breakout below this daily level will push the price much lower with the next ideal target set around 109.288. If the price breaks below this level, then further momentum to the lowerside is expected.