“¢ Diverging technical indicators now seemed to keep a lid on last week’s rebound from bullish flag support and any meaningful momentum beyond 50-day SMA.
“¢ A strong follow-through buying above the 0.9900-0.9910 immediate strong hurdle needed to increase prospects of any further near-term up-move.
“¢ The 0.9800 handle might continue to protect the immediate downside ahead of this week’s key event risk – the latest FOMC monetary policy update.
Spot Rate: 0.9858
Daily High: 0.9874
Daily Low: 0.9839
Trend: Sideways
Resistance
R1: 0.9896 (R1 daily pivot-point)
R2: 0.9918 (bullish flag resistance)
R3: 0.9941 (200-period SMA H4)
Support
S1: 0.9800 (round figure mark)
S2: 0.9773 (bullish flag support)
S3: 0.9711 (200-day SMA)
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