“¢ Bulls manage to defend a descending trend-channel support, forming a part of a bullish flag on daily charts.
“¢ Bullish moving averages cross-over on daily charts supportive of the bullish chart pattern formation.
“¢ Move back above 50-day SMA now seems to pave the way for a continuation of the ongoing up-move.
“¢ Short-term technical indicators are yet to move in positive territory and could hinder further upside.
Spot Rate: 0.9849
Daily Low: 0.9792
Trend: Bullish
Resistance
R1: 0.9846 (horizontal level)
R2: 0.9902 (R2 daily pivot-point)
R3: 0.9930 (bullish flag resistance)
Support
S1: 0.9821 (daily pivot-point)
S2: 0.9800 (round figure mark)
S3: 0.9788 (six-week low set yesterday)
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