Analysis for $USUAL
- It is observed that the price has retraced to key Fibonacci levels and is showing some consolidation.
- The price has retraced near 1.2915 and 1.2729, both acting as important supports. A clear resistance is found at 1.4008, which coincides with a previous rejection level.
- The MACD is in a negative zone with a bearish slope, but the histogram bars seem to be decreasing, indicating that the bearish pressure may be losing strength.
Possible scenarios:
- Bullish scenario: If the price respects the support at 1.2915-1.2729, it could bounce towards 1.3111 and subsequently attempt to break 1.3373. A sustained move above 1.3373 could pave the way towards 1.4008.
- Bearish scenario: If the price loses the support at 1.2729, the next target would be the level 1.2262. This scenario would be confirmed with an increase in bearish volume or if the MACD continues to show negative strength.
- Lateral consolidation: The price could remain oscillating between the supports 1.2729 and the resistances at 1.3373, while accumulating momentum for a more significant move.