The price is trying to break out a critical resistance.
The price is moving in a horizontal direction between the support level at 1.33893 and the resistance level at 1.35075. Currently, the resistance level is tested by the price trying to break it out with the support of the Moving Averages while the Stochastic indicator is recording overbought, indicating the possibility of the price to rebound downward targeting the support line
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.