09:02 UTC
Downtrend off Feb peak, basing near range lows · RSI 45 · price 1.36853
Lower highs since 1.3966, support shelf at 1.3580.
Two-month downtrend off the Feb 1.3966 peak has stalled into a range between 1.3580 and 1.3740, with buyers stepping in twice at the lows to form a tentative double bottom. Price remains capped below both EMA20 and EMA50, but the slide has lost momentum and RSI has lifted off oversold into the mid-40s. Last week's bounce from 1.3580 was reinforced after the firmer-than-expected US April NFP, leaving the pair mid-range ahead of US CPI later this week.
Support: 1.3580, 1.3484, 1.3525
Resistance: 1.3740, 1.3810, 1.3966
What it said to watch
- daily close above 1.3810 ema50 would break the lower-high sequence
- loss of 1.3580 range low confirms continuation toward 1.3484 Jan swing low
- US CPI release this week could materially shift this read