“¢ Rebounding from 0.9830 area, nearing a descending trend-channel support (bullish flag).
“¢ Sustained move beyond 200-period SMA on the 4-hourly chart to reaffirm positive outlook.
“¢ Bearish moving averages cross-over on 4-hourly charts indicates some risk to the downside.
“¢ Break below the channel support to pave the way for an extension of the corrective slide.
Spot Rate: 0.9868
Daily High: 0.9886
Daily Low: 0.9836
Trend: Bullish until holds above 0.9830-25 support
Resistance
R1: 0.9890 (50-period SMA H4)
R2: 0.9922 (R2 daily pivot-point)
R3: 0.9945 (descending trend-channel resistance)
Support
S1: 0.9827 (50-day SMA)
S2: 0.9792 (S2 daily pivot-point)
S3: 0.9767 (April 24 swing low)
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