Daily Candle Chart
On the technical chart it can be observed that the 200-day simple moving average is moving higher and could allow the rate to slightly surge.
Meanwhile, take into account that it is the only technical resistance to the rate in the range from 1.5500 to 1.6700.
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 June 16.
Starting from the 1.5400 level there are sell orders set at each price level up to 1.7000. At each price level at least a hundred coins would be sold. In the meantime, note that at the 1.5400 mark 1000 coins could be sold.
In regards to buy orders, buyers could keep the rate up starting at 1.5000. At that level 857 coins should be bought.
Meanwhile, a decline below the 1.4500 level is unlikely. Starting at that level there are orders to buy almost one thousand coins at each price level as low as the 1.3100 mark.
© Dukascopy Bank SA
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
The rate can either trade sideways due to the resistance of the 200-day SMA and the sell orders starting at 1.5400, or the pair could surge.
In the case of trading sideways, the rate should fluctuate between 1.5400 and 1.5000. Notable buy and sell orders are open at these levels.
On the other hand, as the 200-day SMA moves higher, downwards pressure could decline and the pair would surge.