AXS on weekly support, likely to bounce
Updated
The price has once again hit the weekly support zone. It may go deeper or breach the zone briefly, but I expect it to hold here and bounce towards weekly resistance. There are some daily resistances on the way up to weekly resistance and may hold the price in between.
Note
The support zone held the price according to our expectation. And it bounced from there aiming towards the major daily resistance. But the recent price action has formed a minor daily resistance which is sitting at the same level where the current price is. And that also explains the pause of the price at this level. However, I feel this zone is not going to hold the price long and price will continue its journey towards major daily resistance around 7.56-7.72 zone.
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