As can be seen from the chart below, price action continues to respect resistance between 4.792% (1Y) and 4.770% (1W), which has also seen flow move below the neckline of a double-top pattern at 4.712%.
With the close below a notable pattern neckline, additional underperformance towards 1Y support at 4.640% (which held on two occasions in April and September this year) might unfold. A leg below 4.640% also unearths another layer of nearby 6M support at 4.577%.
Written by the FP Markets Research Team
With the close below a notable pattern neckline, additional underperformance towards 1Y support at 4.640% (which held on two occasions in April and September this year) might unfold. A leg below 4.640% also unearths another layer of nearby 6M support at 4.577%.
Written by the FP Markets Research Team
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.