Tight Box Pattern Holds

We saw similar whipping price action in this pair to that of the EURUSD.

Price made a sharp move higher before quickly snapping back lower.

The key thing with this pair was that whilst it did whip all around, it still respected the key support and resistance levels in place.

Whilst a lot of stops would have been hit with the large false breakout higher, the daily resistance still held.

Price is now in a very tight box and the best plays look to be on the smaller intraday charts hunting trades from the box patterns high and low.