Yesterday, the pair extended above a key swing area between 159.74 and 159.96, reaching a high of 160.02. However, the breakout lacked follow-through. Buyers could not sustain momentum above that ceiling, and the price quickly rotated lower. The subsequent cease-fire headlines accelerated the downside move, pushing the pair toward a lower swing area between 158.01 and 158.26.

On the downside, sellers also failed to gain lasting control. The price briefly broke below that support zone to a low of 157.90, but like the failed upside breakout the day before, momentum stalled quickly. Buyers stepped back in, and the pair rotated higher once again.

Currently, the price is trading up near 158.74, with modest resistance at 158.89, followed by a more defined level near 159.21–159.22 (the lows from the prior four days).

The broader takeaway: both sides have had their opportunities—and both have failed to deliver sustained momentum. Buyers could not hold above 160.00. Sellers could not keep the price below 158.00. As a result, the pair has settled back into a well-defined range, with 158.00 as the floor and 160.00 as the ceiling.

Until there is a clear break outside that range, the price action remains consolidative, with traders likely to continue fading extremes rather than chasing breakouts.