Consolidating test of the 1.0695/1.0700 resistance and scope seen for break higher to extend bounce from the 1.0600 low.
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.0885 | * | 9 Apr high | S1 | 1.0650 | congestion | ||
R3 | 1.0800 | * | congestion | S2 | 1.0600 | * | 16 Apr low | |
R2 | 1.0750 | congestion | S3 | 1.0565 | * | congestion, 2 Nov low | ||
R1 | 1.0725 | * | 2 Apr low | S4 | 1.0517 | * | Nov low |
Asterisk denotes strength of level
01:30 GMT - Consolidating test of the 1.0695/1.0700 resistance and scope seen for break higher to extend bounce from the 1.0600 low. Daily studies remains positive and suggest room for stronger gains to the 1.0725/50 congestion area. Clearance here, if seen, will open up the 1.0800 level though the bearish structure suggest gains giving way to fresh selling pressure later. Meanwhile, support is raised to the 1.0650 congestion then the 1.0600 low. Below the latter will see room to extend losses from the December high to the 1.0565 support then the 1.0517/00 area.