21:10 UTC
Primary downtrend from May, now range-bound · RSI 55 · price 66.64
Broad 62.30-69.26 range since the late-August high, lower highs inside it.
The slide from the May 78 area bottomed in mid-July and the August recovery stalled at the 71.17 aug high, leaving eight weeks of sideways work between the 62.30 range floor and the 69.26 range top. Last week's dip to 62.30 was bought back over three sessions and price at 66.64 now sits above a flat, converged 65.20 ema cluster (EMA20 65.31 / EMA50 65.12), with RSI(14) at 55 — mid-cycle, no D1 extreme. The Fed's 25bp hike and the run of hawkish fedspeak remain the drag that has capped each weekly attempt near the 67.32 prior high.
Support: 65.20, 62.30
Resistance: 67.32, 69.26, 71.17
What it said to watch
- Daily close above the 67.32 prior high would put the 69.26 range top back in reference
- Loss of the 65.20 ema cluster on a closing basis returns focus to the 62.30 range floor
- A close below 62.30 confirms a lower low and invalidates the range read
- US flash PMIs Wed 13:45 UTC are the week's highest-impact print for the USD leg and could reset this range read