Daily Pivots: (S1) 0.8914; (P) 0.8943; (R1) 0.8979; More…
Break of 0.9000 resistance suggests that choppy fall from 0.9146 might have completed at 0.8900 already. Intraday bias is back on the upside for stronger rise to 0.9146 resistance. on the downside, though, break of 0.8900 will 0.8818 and possibly below.
In the bigger picture, fall from 1.1046 (2022 high) is seen as a leg in the long term range pattern from 1.0342 (2016 high), which might have completed at 0.8818 already, just ahead of 0.8756 long term support. Sustained trading above 0.9058 support turned resistance should confirm medium term bottoming.
