The counter is formed a bearish exhaustion candle.
Then it spiralled down and broken the critical support of 1.06138.
Now, the broken support is acting as the resistance.
Also the RSI indicator formed a head and shoulder pattern during the exhaustion candle move and broke the neckline. Now, the neckline coincides with the broken support bolstering the resistance.
The critical trendline of 45 degree angle which determines the strength of a trend is also acting as a resistance.
Hence, we expect the counter to be bearish and move the support level of 1.05461.
Then it spiralled down and broken the critical support of 1.06138.
Now, the broken support is acting as the resistance.
Also the RSI indicator formed a head and shoulder pattern during the exhaustion candle move and broke the neckline. Now, the neckline coincides with the broken support bolstering the resistance.
The critical trendline of 45 degree angle which determines the strength of a trend is also acting as a resistance.
Hence, we expect the counter to be bearish and move the support level of 1.05461.