The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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On Thursday, starting in the European session, the Australian dollar sharply bounced against the U.S. dollar from the 100-hour simple moving average (SMA) — this favors the bulls. By overcoming previous weakness caused by weaker-than-expected employment data in Australia, selling pressure on the dollar intensified following weaker initial jobless claims data from the U.S. Oscillators on the same chart are positive.
The nearest resistance is around 0.6680; breaching this level will allow the pair to target the round number of 0.6700, and beyond that, the yearly high. A decisive breakout above the annual high around 0.6707 will open the psychological level of 0.6800 as the next target, with the potential for further growth if the bullish momentum continues to strengthen.
On the other hand, the psychological level of 0.6660 is the nearest support before the round number of 0.6600. A daily candle closing below 0.6600 would undermine the short-term bullish sentiment, opening up the next support area around 0.6550 - 0.6540.
However, as long as the oscillators on the daily chart are positive, the path of least resistance remains upward. It is important to note, however, that the relative strength index (RSI) is hovering near the overbought zone at 68, suggesting consolidation.
The moving average convergence divergence (MACD) remains in positive territory, with the MACD line above the signal line, although the histogram has begun to narrow, suggesting a slowdown in growth in the near term.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
