The critical zone of support that was seen on the chart has been well rejected, as can be deduced from the recent price moves that have taken place in the market. To go further, we can see that the price has formed a descending channel, and it is now towards the channel’s bottom edge. This indicates that the price is expected to continue falling. We anticipate that the price will continue to go upward from this point forward, and that it will eventually approach the significant region of resistance that is indicated on the graph in a step-by-step manner. Even if the trip can be a little bit lengthy and full of bumps, we are here for it! Don’t forget that patience is one of the most important traits for successful traders to have.

The support rests at 0.95550 with resistance at 0.95680. The pivot point at 0.95600 is located above the price line. The EMA of 10 is moving with a bearish bias below the EMA of 200 and the EMA of 100 which are crossed. Stochastic is moving in the low ranges. It seems that the RSI is going toward 30, but the ADX isn’t displaying a distinct trend. We can see a horizontal trend in the MACD’s histogram.

• There is resistance at 0.95680, followed by resistance at 0.95730 and 0.95810.
• There is support at 0.95550. Below, there is 0.95470 and 0.95420.

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.