- The falling channel breakout seen in the hourly chart indicates the pullback from the July 20 high of 0.8958 has ended and the bigger bullish trend (from the April 17 low of 0.8621) has resumed.
- A close above Wednesday’s doji candle high of 0.8902 would further add credence to bullish revival indicated by the falling channel breakout.
Hourly chart
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Spot Rate: 0.8887
Daily High: 0.8889
Daily Low: 0.8878
Trend: Bullish
R1: 0.8898 (10-day moving average)
R2: 0.8958 (July 20 high)
R3: 0.8968 (March 7 high)
Support
S1: 0.8865 (previous day’s low)
S2: 0.8842 (May 4 high)
S3: 0.8817 (200-day moving average)
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