09.03.202607:34 Forex Analysis & Reviews: XPD/USD has the potential to continue its weakening toward the nearest support level today

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[XPD/USD]

With all technical conditions indicating weakness in Palladium versus the USD, then there is a chance today that XPD/USD will weaken toward its nearest support level.

Key Levels

1. Resistance. 2 : 1681.94

2. Resistance. 1 : 1656.70

3. Pivot : 1631.61

4. Support. 1 : 1606.37

5. Support. 2 : 1556.04

Tactical Scenario

Pressure Zone: If XPD/USD fails to break above 1631.61, there is potential pressure toward 1606.37.

Momentum Extension Bias: If 1606.37 is broken, there is a chance to test the next support at 1556.04.

Invalidation Level / Bias Revision

The downside bias is restrained if XPD/USD strengthens and breaks above 1681.94.

Technical Summary

EMA(50) : 1619.22

EMA(200): 1667.57

RSI(14) : 43.54

Economic News Release Agenda:

There are no economic data releases from the U.S. market session today.

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