The pair rose during the Asian trading period on Tuesday for the second day in a row, in the absence of strong data today from the New Zealand economy and also the eurozone.

We expect the pair to start pulling back today as it is now trading inside a symmetrical triangle on the hourly timeframe and we expect the break to be made down after the broken uptrend levels were retested yesterday.

We are now targeting the levels of 1.7840 as the first target, and then the levels of 1.7700.

The scenario fails to close a candle a day above the levels of 1.7955.