The price has once again hit the weekly support zone. It may go deeper or breach the zone briefly, but I expect it to hold here and bounce towards weekly resistance. There are some daily resistances on the way up to weekly resistance and may hold the price in between.
Kommentar:
The support zone held the price according to our expectation. And it bounced from there aiming towards the major daily resistance. But the recent price action has formed a minor daily resistance which is sitting at the same level where the current price is. And that also explains the pause of the price at this level. However, I feel this zone is not going to hold the price long and price will continue its journey towards major daily resistance around 7.56-7.72 zone.
