21:01 UTC
Downtrend stabilising, base forming · RSI 60 · price 0.59797
Lower highs from Jan, basing near 0.5700, recovery into 0.5980.
Quarter-long downtrend from the late-January 0.6093 high carved a base in the 0.5680–0.5740 zone through March and April, with two distinct tests forming a double bottom. Price has since recovered above EMA(20) and EMA(50) on D1, pushing into the recent high at 0.5994 before today's pullback to 0.5980 as the US Dollar caught a safe-haven bid on Middle East headlines. Daily RSI at 60 is constructive but not stretched, leaving room toward the Feb pivot at 0.6047.
Support: 0.5835, 0.5740, 0.5681
Resistance: 0.5994, 0.6047, 0.6093
What it said to watch
- Daily close above 0.5994 recent high opens path toward 0.6047 Feb pivot
- Failure to hold 0.5835 swing low reopens the cycle low at 0.5681
- Middle East risk-off flows into USD remain the dominant macro driver this week