21:03 UTC
Downtrend, deeply oversold · RSI 29 · price 0.56347
Lower highs and lower lows since late May.
Relentless multi-week decline from the late-May 0.5994 high to 7-month lows near 0.5635, an unbroken chain of lower highs and lower lows on hawkish-Fed strength, risk-off and a firm DXY. Price sits well below EMA20 and EMA50, both falling, with RSI(14) pinned around 28 — meaningful D1 oversold territory after a near-5% slide. The May double-top projection sits at 0.5625/0.5620, the next structural test directly beneath spot.
Support: 0.5625, 0.5626
Resistance: 0.5717, 0.5994
What it said to watch
- D1 close below 0.5620 confirms the May double-top target and extends the downtrend to fresh 2026 lows
- Reclaim of the 9d ema ~0.5717 would mark the first relief from oversold conditions
- RSI sub-30 raises the risk of a corrective squeeze against the dominant trend
- US ADP and ISM (Jul 1) plus DXY follow-through are the primary drivers into next sessions