We have a uptrend here and price is currently above the weekly pivot
but it has approached to the first resistance level
and also the upper band of the ascending channel
shows a regular negative divergence. If price gets rejected by this level, I expect a downside bounce around 105.830 and if there was no bearish
candle closed below 105.830 which is our weekly pivot
, we can expect a rise again towards the next resistance level
(R2) and then a rejection by R2, then a fall in price again. On the other hand, If the candle could close below the weekly pivot
, we can expect the channel’s downside breakout and price can fall to S1 and S2 in the future.