Daily chart: as expected, the pair “fell off” down from the upper Bollinger band (110.30), while remaining within the sideways inside the envelopes (109.40-110.30). Probably, the market will keep multidirectional fluctuations in this range.

Н4: bounce up from the local dynamic support 109.61 (lower Bollinger band). The current phase of the market is ascending, we are waiting for the price on the middle band (110.04).

Н1: strong resistance is expected in the area of 109.93-110.04, inasmuch as here the intraday upper Bollinger band will be tested, and there is no ADX trending potential on the bulls side. This narrows today’s potential trading range to 32 pips (109.61-109.93).

Conclusions: flat in the range 109.61-109.93.
Trading decisions: short-term deals in the range 109.61-109.93.