- USD is evolving in a bear channel with falling 50, 100 and 200-period simple moving averages suggesting a bearish bias.
- The market is momentarily testing the 0.9700 support and targets to the downside are seen at 0.9649 (April 6 high) and 0.9580 (April 17 low).
- A bull breakout above 0.9900 would likely invalidate the bearish bias.
Spot rate: 0.9802
Relative change: -0.34%
High: 0.9779
Low: 0.9707
Main trend: Bearish
Resistance 1: 0.9750, 200-day simple moving average
Resistance 2: 0.9788 June 7 swing low (key level)
Resistance 3: 0.9807 August 22 low
Resistance 4: 0.9820 August 25 low
Support 1: 0.9707 current August 29 low
Support 2: 0.9649 April 6 high
Support 3: 0.9580 April 17 low