The pair traded upward on Tuesday and tested 1.1839 - the 50% retracement level (yellow dashed line), then rolled back down, closing the daily candle at 1.1802. Today, the market may move up. News is expected at 14:30 UTC (dollar).

Trend analysis (Fig. 1).

The market may move upward from the level of 1.1802 (closing of yesterday's daily candle) with the target of 1.1823 - the 38.2% retracement level (yellow dashed line). When testing this level, the upward movement may continue with the next target at 1.1839 - the 50% retracement level (yellow dashed line). Upon reaching this level, a downward rollback is possible.

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion:

Today, the price may move upward from the level of 1.1802 (closing of yesterday's daily candle) with the target of 1.1823 - the 38.2% retracement level (yellow dashed line). When testing this level, the price may continue to move up with the target at 1.1839 - the 50% retracement level (yellow dashed line). Upon reaching this level, a downward rollback is possible.

Alternative scenario: the price may move upward from the level of 1.1802 (closing of yesterday's daily candle) with the target at 1.1811 - the historical resistance level (blue dashed line). When testing this level, the price may begin to move downward with the target at 1.1770 - the lower fractal (yellow dashed line), where an upward pullback may form.