Leaning lower from the 1.0812 high and break of the 1.0750 support see room to the 1.0725/1.0700 area
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.0900 | congestion | S1 | 1.0750 | * | break level | ||
R3 | 1.0885 | * | 9 Apr high | S2 | 1.0725 | 2 Apr low | ||
R2 | 1.0850 | * | congestion | S3 | 1.0700/95 | * | congestion, Feb low | |
R1 | 1.0800/12 | * | congestion, 3 May high | S4 | 1.0650 | * | 1 May low |
Asterisk denotes strength of level
01:25 GMT - Leaning lower from the 1.0812 high and break of the 1.0750 support see prices unwinding the overbought intraday and daily studies. Lower will see room to the 1.0725/1.0700 area which is expected to underpin. Failure here will open up deeper pullback to the 1 May low at 1.0650. However, corrective pullback is expected to give way to buying pressure later and clearing the 1.0800/12 resistance will see room to extend gains from the 1.0600, YTD low. Higher will open up extension to the 1.0850 congestion then the 1.0885/1.0900 resistance.