The immediate focus rests on whether buyers can defend the channel's lower ascending boundary between 156.60 and 156.70. A confirmed bounce off this dynamic support would offer an opportunity for bulls to retest the 157.40 resistance zone and possibly push back toward 158.00. Conversely, a decisive 1-hour close below 156.60 would signal a technical breakdown of the ascending channel, likely exposing lower horizontal support shelves at 156.00 and 155.40.
The immediate focus rests on whether buyers can defend the channel's lower ascending boundary between 156.60 and 156.70. A confirmed bounce off this dynamic support would offer an opportunity for bulls to retest the 157.40 resistance zone and possibly push back toward 158.00. Conversely, a decisive 1-hour close below 156.60 would signal a technical breakdown of the ascending channel, likely exposing lower horizontal support shelves at 156.00 and 155.40.