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[XPD/USD]
With all technical conditions indicating weakness in Palladium versus the USD, then there is a chance today that XPD/USD will weaken toward its nearest support level.
Key Levels
1. Resistance. 2 : 1681.94
2. Resistance. 1 : 1656.70
3. Pivot : 1631.61
4. Support. 1 : 1606.37
5. Support. 2 : 1556.04
Tactical Scenario
Pressure Zone: If XPD/USD fails to break above 1631.61, there is potential pressure toward 1606.37.
Momentum Extension Bias: If 1606.37 is broken, there is a chance to test the next support at 1556.04.
Invalidation Level / Bias Revision
The downside bias is restrained if XPD/USD strengthens and breaks above 1681.94.
Technical Summary
EMA(50) : 1619.22
EMA(200): 1667.57
RSI(14) : 43.54
Economic News Release Agenda:
There are no economic data releases from the U.S. market session today.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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