The currency is moving within a strong accumulation area (0.10 – 0.20) after a sharp decline… and this is usually a calm before the big movement.
✅ Breaking 0.22 with a daily close → the beginning of an upward wave that may extend to areas 0.50 then 0.80 ❌ Breaking 0.10 → suggests a continuation of the decline
📊 Summary: There is no clear direction currently… it is best to wait for the breakout,
Be careful when trading it because the currency has collapsed before... Additionally, it is classified as one of the club currencies, so its movement might be opposite to the market and drop when it rises 🫡
⭕ Any additional drop below one dollar is tempting for buying the currency, especially if one can hold it for the next cycle
◀️ Two support ranges: ⭕ First range is moderate above $1.00 between 1.275 - 1.09 ⭕ Second range, which is the most important and prominent, between 0.8237 - 0.6586 is very good for buying if it drops towards it
◀️ The key to the currency's recovery, if this larger drop does not occur, is through 1.620