The rate has been kept up by the monthly simple pivot point and the psychological support of the 1.5000 mark.
Daily Candle Chart
On the technical daily candle chart, the rate might face the resistance of the 55-day simple moving average at 1.5290. Meanwhile, the rate is being supported by the monthly simple pivot point at 1.5033.
In the meantime, take into account that the support of the 100-day SMA was located at the 1.4600 level.
Market Depth
Market Depth reveals, where traders have set up buy and sell orders. The up to date data is published at dukascoin.com. Dukascopy Analytics has visualized the data by marking the buy and sell order levels on the chart. Below, one can observe the market orders on July 27.
Notable sell orders are located at 1.5300, 1.6000 and 1.6400 levels, where more than 500 coins could be sold. In the meantime, the 1.6900 level has orders for more than thousand coins to be sold.
In regards to buy orders, the closest by cluster of buy orders was located at the 1.3900 mark. At that level, 1131 coins would be bought.
Meanwhile, 903 coins could be bought at 1.3400.
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
The rate has two possible scenarios. It is either going to surge or decline.
In the case of a decline, the rate would pass the 1.5000 level and aim at the 100-day SMA near 1.4600. Moreover, if the SMA fails to keep the rate down, the monthly S1 at 1.4267 could be reached.
On the other hand, the pair could break the resistance of the 55-day SMA and the sell orders at 1.5300. In this case, the rate would aim at the resistance cluster at 1.6000 mark.