“¢ Finally breaks below a three-day-old trading range and slips below a short-term ascending trend-line support, held since early April.
“¢ Short-term technical indicators have also started drifting into negative territory and add credence to the possible bearish breakdown.
“¢ A follow-through selling below mid-0.9800s will confirm the negative outlook and pave the way for an extension of the pair’s rejection slide from the vicinity of parity mark.
Spot Rate: 0.9893
Daily High: 0.9944
Trend: Bearish
Resistance
R1: 0.9944 (current day swing high)
R2: 0.9966 (weekly tops set on Monday)
R3: 0.9990 (R3 daily pivot-point)
Support
S1: 0.9876 (S1 daily pivot-point)
S2: 0.9855 (horizontal level)
S3: 0.9826 (June 14 swing low)
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