Turned up from the 1.0650 congestion to extend consolidation at the 1.0700 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.0885 | * | 9 Apr high | S1 | 1.0650 | * | congestion | |
R3 | 1.0850 | * | congestion | S2 | 1.0600 | ** | 16 Apr YTD low | |
R2 | 1.0800 | * | congestion | S3 | 1.0565 | * | congestion, 2 Nov low | |
R1 | 1.0750 | congestion | S4 | 1.0500 | * | congestion |
Asterisk denotes strength of level
01:45 GMT - Turned up from the 1.0650 congestion to extend consolidation at the 1.0700 level though positive daily studies suggest scope for retest of the 1.0750 high. Break above the latter will see room to extend gains from the 1.0600 low and see scope to 1.0800 level. Gains beyond this, if seen, will open up the 1.0850/1.0885 congestion and April high to retest. Meanwhile, support at the 1.0650 congestion now underpin and break here needed to open up the 1.0600 low to retest and further extend losses from the December high.