A decisive daily close above the descending trendline at 84.00–85.00 would confirm a bullish breakout, clearing the way toward targets at 93.00 and the 105.00–110.00 zone. Conversely, a breakdown below the 60 SMA and the ascending trendline at 75.00 would signal continued bearish momentum, shifting downside focus back toward the multi-month support floor at 67.00.
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The chart displays a multi-month symmetrical triangle consolidation pattern, bounded by a descending resistance trendline from the March peak near $120 and an ascending support trendline originating from the February base around 62. The price is currently trading at 82.105, hovering just above the flattened 60-day SMA following a rebound from a late-June double bottom near 67.00. This compression toward the narrowing apex reflects declining volatility and indicates an impending directional breakout.
A decisive daily close above the descending trendline at 84.00–85.00 would confirm a bullish breakout, clearing the way toward targets at 93.00 and the 105.00–110.00 zone. Conversely, a breakdown below the 60 SMA and the ascending trendline at 75.00 would signal continued bearish momentum, shifting downside focus back toward the multi-month support floor at 67.00.
Mon, 17 Aug 2026 08:28:59 GMT
Source: Dukascopy Bank SA
A decisive daily close above the descending trendline at 84.00–85.00 would confirm a bullish breakout, clearing the way toward targets at 93.00 and the 105.00–110.00 zone. Conversely, a breakdown below the 60 SMA and the ascending trendline at 75.00 would signal continued bearish momentum, shifting downside focus back toward the multi-month support floor at 67.00.
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