FIL on the 4H timeframe is currently trading around 0.944 while compressing inside a tightening structure.
Price is being squeezed between a descending resistance trendline from the March highs and a rising support trendline from the late March lows, forming a clear wedge compression pattern.
Price has recently pushed up toward the descending resistance and is now testing that ceiling directly.
Key Levels To Watch
0.944–0.950 → Descending resistance trendline, current test
0.920 → Horizontal support inside the range
0.880–0.865 → Rising trendline support (dynamic, climbing)
0.800–0.810 → Base of the structure, deep support
Below 0.780 → Full structure breakdown
This is the most important test in the current structure. Price is pressing directly into descending resistance after a series of higher lows off the rising trendline.
A clean break and close above 0.950 would clear the descending resistance and open room toward 1.000 and the prior range highs.
Failure to break above descending resistance and a loss of 0.920 support shifts focus back to the rising trendline near 0.865–0.880.
This is a compression setup at a decision point.
Break above 0.950 → descending resistance cleared, eyes on 1.000+.
Reject here → pullback toward rising trendline at 0.865–0.880.
Neutral inside range.
Bias only on confirmed breakout or rejection.