Daily: the pair tested the lower Bollinger band without breaking through it. Thus, the bulls have a chance for a reversal, although the active trend ADX plays against them.

H4: we also note a solid defense of the lower Bollinger envelope, which led to the formation of a bullish convergence on RSI – another signal of a potential upward reversal.

H1: strong resistance in the zone of 1.0823 (confluence of H1-upper and H4-middle Bollinger Bands). It is quite possible that we will be waiting for a retracement in the envelope range (1.0777-1.0823).

Conclusions: flat in the range of 1.0777-1.0823.

Recommendations: trade in the range of 1.0777-1.0823.