Price found some support by the daily SMA200
but has been unable to produce a strong bounce.
Natural targets above current level is the Weekly pp
which is yet untraded at 0.93. And below price we
have the untraded Yearly S1 and Weekly S1 confluence
support at 0.50.
On intradray chart (to the right) price is holding above
the Daily pivot point and as long as it does , chances are
it will test the R1 at 0.795. A break below and it will
likely test the current low at 0.70 and even lower the
S1 at 0.66.
Overall we are seeing price trying to halt the sharp ongoing
drop but Bulls would like to see a freeing green big candle up
and a daily close above the 1.00 to shake off some
Bears.
but has been unable to produce a strong bounce.
Natural targets above current level is the Weekly pp
which is yet untraded at 0.93. And below price we
have the untraded Yearly S1 and Weekly S1 confluence
support at 0.50.
On intradray chart (to the right) price is holding above
the Daily pivot point and as long as it does , chances are
it will test the R1 at 0.795. A break below and it will
likely test the current low at 0.70 and even lower the
S1 at 0.66.
Overall we are seeing price trying to halt the sharp ongoing
drop but Bulls would like to see a freeing green big candle up
and a daily close above the 1.00 to shake off some
Bears.
