We could observe the breakout of downward price channel. So, the price is on the resistance zone and then a movement toward the support is possible.
The support rests at 0.89700 with resistance at 0.89780. The pivot point at 0.89720 is located below the price line. The EMA of 10 is moving with bearish bias in the descendant channel and it is below EMA of 200 and the EMA of 100. Stochastic is moving toward the overbought area. The RSI is moving at the level of 50 and the ADX is moving horizontally and not showing a clear signal. The MACD histogram is in negative territory.

• There is resistance at 0.89780, followed by resistance at 0.89800 and 0.89860.
• There is support at 0.89700. Below, there is 0.89640 and 0.89620.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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