After the price rebound from the upper bound of the yellow channel, we saw the market decline into its central zone. Additionally, the price broke the red line of the moving average. Thus, the bears may now open the way to the support level of 1.096, which is on the lower bound of the yellow channel, so in the next trading days, a decline is possible.
However, if we see a break above the moving average near the 1.12, the price growth may continue to the upper bound of the yellow channel and the resistance level of 1.121.
