This is an interesting pair with the price action it is printing just at the moment.
After selling off lower, price formed a double bottom and has now moved back higher into the daily chart resistance ‘zone’.
I call it a zone because it is not a straight line by any means.
If you look at the daily chart you will see that when price previously held as support at this level it struggled to make a solid close below it and when it did, price quickly retreated back above it.
This is a major level to watch in the coming sessions.
After selling off lower, price formed a double bottom and has now moved back higher into the daily chart resistance ‘zone’.
I call it a zone because it is not a straight line by any means.
If you look at the daily chart you will see that when price previously held as support at this level it struggled to make a solid close below it and when it did, price quickly retreated back above it.
This is a major level to watch in the coming sessions.
