We see market movement inside the yellow channel. After the price rebound from its upper bound, the bears put pressure on prices, so we saw a rapid fall into the center zone of this channel.Despite the fact that the bulls made several attempts to gain a foothold above the red line of the moving average, they failed. The price is still below this line.
And that makes the next coming trading days interesting as a validation of bears may depress the market towards the support level of 0.833, which is on the lower bound of the yellow channel.
However, if the moving average breaks above the level of 0.863, the bears will lose their potential, and the bulls will open the way to the resistance at 0.882.
