The daily chart of the currency pair is consolidating and rebounding near the previous low of 1.0535, but it is still below the downward trending MA20, so caution should be taken for further upside potential. The 4-hour chart shows that after two consecutive days of consolidation following a sharp decline, the momentum is limited. On the hourly chart, there is intense competition between bulls and bears, with a rebounding momentum that remains strong, but the stochastic indicator shows a bearish divergence, with initial resistance at 1.0600. It is suggested to focus on the performance of the resistance level at 1.0625 to determine the further direction within the day.
Support levels: 1.0580, 1.0540, 1.0500.
Resistance levels: 1.0625, 1.0690, 1.0740.
Support levels: 1.0580, 1.0540, 1.0500.
Resistance levels: 1.0625, 1.0690, 1.0740.
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Gold rises, dollar falls, continue to hold
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