Note: This section contains information in English only.The FX pair recently tested and rejected the resistance level at 149.000, indicating strong selling pressure at that zone. Following the rejection, the price began a gradual decline, moving towards the 143.000 support area. This support zone is a key level to watch, as it could determine the next directional move.
If the 143.000 support level holds, it may act as a base for a potential reversal, leading to renewed buying interest and a possible rally back toward the 149.000 resistance level. This scenario would suggest that buyers are stepping in to defend the support, maintaining the broader range-bound market structure.
However, if the 143.000 level fails to hold and the pair breaks below it decisively, it could signal continued bearish momentum, opening the path for a further drop toward the next key support around 140.000. A break below 143.000 would likely indicate a shift in sentiment, with sellers gaining greater control and increasing the risk of a deeper correction.
If the 143.000 support level holds, it may act as a base for a potential reversal, leading to renewed buying interest and a possible rally back toward the 149.000 resistance level. This scenario would suggest that buyers are stepping in to defend the support, maintaining the broader range-bound market structure. However, if the 143.000 level fails to hold and the pair breaks below it decisively, it could signal continued bearish momentum, opening the path for a further drop toward the next key support around 140.000. A break below 143.000 would likely indicate a shift in sentiment, with sellers gaining greater control and increasing the risk of a deeper correction.
Wed, 21 May 2025 12:59:24 GMT
Source: Dukascopy Bank SA
If the 143.000 support level holds, it may act as a base for a potential reversal, leading to renewed buying interest and a possible rally back toward the 149.000 resistance level. This scenario would suggest that buyers are stepping in to defend the support, maintaining the broader range-bound market structure. However, if the 143.000 level fails to hold and the pair breaks below it decisively, it could signal continued bearish momentum, opening the path for a further drop toward the next key support around 140.000. A break below 143.000 would likely indicate a shift in sentiment, with sellers gaining greater control and increasing the risk of a deeper correction.