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Any weekly close above $1.50 confirms further bullishness.
OMUSD formed a double bottom around $1.10 and showed a minor pullback. It holds above the short-term (21 and 55 EMA) and above the long-term moving average. It hit a low of $1.2475 and is currently trading around $1.21704.
The bullish invalidation can happen if the pair closes below $0.580. On the lower side, the near-term support is $1.10. Any break below targets $0.80/$0.58. Any breach below $0.58 targets $0.30.
The pair's near-term resistance is around $1.50. Any breach above confirms minor bullishness. A jump to $1.75/$2 is possible. A surge past $2 will take it to $3.
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It is good to buy on dips around $1 with SL around $0.80 for TP of $1.50/$1.75.
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