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, this week, additional technical resistance appeared in the form of a new weekly R1 simple pivot point at the 1.5333.
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 22.
At the 1.5400 level there is a major cluster of sell orders, as almost 3000 coins could be sold at this level.
In regards to buy orders, buyers could keep the rate up. Buy orders start at 1.5000 and last as low as 1.3000.
© Dukascopy Bank SA
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
The rate is expected to trade sideways due to the resistance of the 200-day SMA and the sell orders at 1.5400.
In the case of trading sideways, the rate should fluctuate between 1.5400 and 1.4900. Notable buy and sell orders are open at these levels.