During the previous trading weeks, the currency pair declined from the upper bound of the green channel to its lower wall. The downward trend was moving within the bounds of the yellow channel.
Then, after rebounding from the lower green bound, we saw a slight upward movement. Most likely, soon the bulls will rise to the yellow wall and the resistance level of 0.973. Then, if this level is broken higher, a path will be opened for the bulls towards the next important resistance level of 0.999.
However, if we see a rebound from 0.973, the market will move down to the lower green bound and the support level of 0.961.
