AWCThe price struggled to hold above the 1.140 area, indicating weakness in the current trend. The next key support level to watch is around 0.960. If the price stabilizes here, it may enter a consolidation phase. However, if this support level is broken, further downside pressure is likely.
Although the RSI is in the oversold zone, suggesting that the stock may be due for a rebound, traders should remain cautious. The MACD has formed a bearish crossover (DC), reinforcing the downside momentum. This suggests that any recovery could be short-lived unless strong buying interest emerges.
Going forward, traders should monitor whether the price can hold above support and look for confirmation signals before anticipating a reversal. A clear breakdown below 0.960 could trigger further selling pressure.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please conduct your own research or consult with a professional before making any investment decisions.
