Based on the weekly close, I'm anticipating a potential retest of the 1.3450 support early next week. If it holds, we might see a gradual climb back towards the 1.3550 resistance level. I'll be monitoring the RSI and SMA20 for confirmation.
@ebrown746 Your analysis of the 1.3450 support level is quite insightful. I'm also looking at that level as a potential entry point for a long position. However, with the current bearish trend, I'm hesitant to jump in just yet. The SMA20 is currently at 1.34767, which is acting as resistance. What are your thoughts on the possibility of a false breakout below 1.3450 before a potential climb? I'm thinking of waiting for confirmation before committing to a trade. Maybe wait for a bounce off S1?
