A decisive 4-hour candle close above the $90.00 threshold would confirm a bullish breakout, opening the door for price expansion toward the top of the channel near $95.00. Conversely, if sellers defend the $90.00 zone, a temporary rejection could send the pair into a minor consolidation phase back down toward the $84.80–$85.00 SMA support region. However, as long as the market trades above this key moving average, the overarching macro uptrend remains firmly intact.
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The LIGHT.CMD/USD pair is demonstrating strong bullish momentum on the 4-hour chart, navigating inside a well-defined ascending parallel channel established in early July. Trading currently around $89.325 (+1.69%), the price is rapidly approaching the critical $90.00 horizontal resistance and psychological barrier. Supporting this ongoing rally is the 22-period Simple Moving Average (SMA) at $84.819, which angles sharply upward and continues to provide solid dynamic support during minor market pullbacks.
A decisive 4-hour candle close above the $90.00 threshold would confirm a bullish breakout, opening the door for price expansion toward the top of the channel near $95.00. Conversely, if sellers defend the $90.00 zone, a temporary rejection could send the pair into a minor consolidation phase back down toward the $84.80–$85.00 SMA support region. However, as long as the market trades above this key moving average, the overarching macro uptrend remains firmly intact.
Thu, 23 Jul 2026 07:22:31 GMT
Source: Dukascopy Bank SA
A decisive 4-hour candle close above the $90.00 threshold would confirm a bullish breakout, opening the door for price expansion toward the top of the channel near $95.00. Conversely, if sellers defend the $90.00 zone, a temporary rejection could send the pair into a minor consolidation phase back down toward the $84.80–$85.00 SMA support region. However, as long as the market trades above this key moving average, the overarching macro uptrend remains firmly intact.
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