The most dominant channel's support has been moved lower. Secondly, a medium-term pattern has been mapped. In addition, the medium term channel continued to move south after testing weekly level at 0.961.
Regarding the short-term future, the medium term channel is likely to be narrower until it breaches the dominant channel and finds support at 0.947.
Meanwhile, technical indicators are still in favor of a fall because the 55 – hour, 100 – hour and 200 – hour SMAs are located above the exchange rate.
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