21:00 UTC
Downtrend faded, two-month base · RSI 46 · price 1.1648
Range after Feb sell-off, holding 1.1580 support.
Daily chart shifted from the late-January sell-off (1.2080 down to 1.1410) into a two-month base, with buyers stepping in twice around 1.1580–1.1510 to form a rough double bottom. Since mid-May price has compressed into a tight 1.1580–1.1690 range, capped by EMA50 sitting overhead near 1.1885. RSI at ~46 reflects the indecision; the dominant Q1 downtrend has stalled but no daily structure break higher yet.
Support: 1.1580, 1.1410, 1.1510
Resistance: 1.1690, 1.1790, 1.1885
What it said to watch
- Daily close above 1.1690 range high opens path toward 1.1790 apr high
- Daily close below 1.1580 range low re-exposes 1.1510 may low and 1.1410 feb swing low
- Ongoing US-Iran headlines and USD strength on strong ISM could pressure the range low