Currently, the pair is pinned at 0.90710, testing the 60-period Simple Moving Average and a key horizontal support shelf at 0.9059. This zone serves as the immediate line in the sand for buyers.
Key Support and Resistance Levels
- The chart highlights explicit horizontal structural levels to monitor:
- Major Resistance (0.9221): The absolute swing high established in mid-May. This represents the ceiling of the current structure.
- Immediate Resistance (0.9105): A previous structural shelf and recent lower high. Recovery above this level is required to neutralize immediate selling pressure.
- Current Pivot/Support Zone (0.9059 - 0.9071): The market is currently trading at 0.90710. The immediate support zone sits just below at 0.9059, coinciding with the SMA 60.
- Key Structural Support (0.8915): The late March/early April swing low. A break here shifts the macro structure to bearish.
- Major Baseline Support (0.8821): Strong historical demand zone.