Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.
The ongoing ascending channel trajectory revealed the underlying uptick in bullish pressure. As a result, the broader outlook started to shift slightly in favor of the bulls. A decline below the up-channel could trigger a near-term decline towards the $0.74-level before a likely reversal. An eventual close above the $1.04-level can provoke a test of the upper trendline of the up-channel before a pullback.The Relative Strength Index ensured its position above the midline to depict a slight buying edge. A sustained position above the 58-mark support could continue supporting near-term buying inclinations.
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