Leaning lower in consolidation from the 1.3670 high with choppy trade back to pressure the 1.3600/1.3578 support
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.3800 | * | 28 Nov 2022 high | S1 | 1.3578 | * | 18 Apr low | |
R3 | 1.3750/65 | ** | Oct 2023 year high | S2 | 1.3550 | * | congestion | |
R2 | 1.3700 | * | congestion | S3 | 1.3525 | ** | Feb high | |
R1 | 1.3670 | ** | 16 Apr YTD high | S4 | 1.3450 | * | congestion |
Asterisk denotes strength of level
02:15 GMT - Leaning lower in consolidation from the 1.3670 high with choppy trade back to pressure the 1.3600/1.3578 support. Would take break here to trigger deeper pullback to correct the strong run-up from the 1.3270, March low. Lower will see room to the strong support at the 1.3550/1.3525 area which is expected to underpin. Failure here will turn focus lower and see room for deeper pullback to the 1.3500/1.3450 area. Meanwhile, resistance at the 1.3670 high expected to cap. Break here will turn focus to the 1.3750/65, the October 2023 year highs.