Settled back in consolidation below the 1.6600 level following spike to retest the 1.6680 resistance
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.6800 | 17 Nov high | S1 | 1.6535 | 17 Apr low | |||
R3 | 1.6745 | ** | 5 Mar YTD high | S2 | 1.6500 | * | congestion | |
R2 | 1.6680 | * | 19 Mar high | S3 | 1.6455 | * | congestion | |
R1 | 1.6600 | * | congestion | S4 | 1.6365 | * | 10 Apr low |
07:10 GMT - Settled back in consolidation below the 1.6600 level following spike to retest the 1.6680 resistance and trendline from the August high. However, bullish run-up from the 1.6365 low keeps pressure on the upside and clear break above the 1.6600 level will expose the 1.6680 resistance then the 1.6745, March YTD high to retest. Meanwhile, support is raised to the 1.6535/1.6500 area and this should now underpin and sustain gains from the 1.6365 low. Failure here will leave the way open for retest of the 1.6455 support.