A number of failed attempts to break through the 114.00 resistance level as well as inability of the rate to slip below the rising 55- and 100-hour SMAs confirmed an assumption that the pair is fluctuating in an ascending triangle pattern. A release of information on the US Core Durable Goods Orders later this day provides a good opportunity to make a breakout from it. At the moment, the northern side looks more reliably secured due to additional barrier set up by the weekly R1 at 113.19. The southern side, in contrast, is protected only by moving averages, which are located quite far away from each other. In addition to that, there is a need to take into account that the average market sentiment is 61% bearish.
