During the previous trading week, the market declined steeply to the lower bound of the yellow channel. At the moment, the bears are close to the support level of 1.097. If the bears have enough strength to continue to push the price down, then soon we will see the achievement of the previously indicated price level. Then, if it is broken below, the price will open the way to the next support level of 1.085, which is on the lower green bound.
However, if the bears quickly lose their potential, and the bulls take control of the price behavior, then an upward scenario may be realized. If the moving average is broken above near 1.104, the bulls will open a path to the upper bound of the green channel. Both possible scenarios of price movement are on the chart.
