The SCR has recently fluctuated between 1.04 and 1.24, with the current price hovering around 1.08. This 20% price range suggests moderate volatility, and the current midpoint position indicates a delicate balance between buying and selling pressures.
Retreating 13% from its recent peak may signal correction or profit-taking, while the 4% rebound from the recent trough reveals some buying interest and potential support. The dynamics between these key levels will shape the SCR's future trajectory.
The support level of 1.04 and resistance level of 1.24 are critical thresholds to watch. A breakout above 1.24 could propel the SCR upward, targeting 1.40-1.50, while a breakdown below 1.04 may precipitate a decline to 0.90-0.95.
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