Sharply higher to extend gains from the low of last week to reach the .6480/.6500 resistance
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 0.6600 | congestion | S1 | 0.6442 | * | Feb low | ||
R3 | 0.6550 | * | congestion | S2 | 0.6400 | figure | ||
R2 | 0.6525 | * | Dec/Jan lows | S3 | 0.6362 | * | 19 Apr low | |
R1 | 0.6480/00 | * | 1 Apr low, congestion | S4 | 0.6340 | * | 10 Nov low |
Asterisk denotes strength of level
00:10 GMT - Sharply higher to extend gains from the low of last week to reach the .6480/.6500 resistance. Break here will open up stronger push to the .6525 resistance then .6550 congesiton as prices unwind oversold daily studies. Gains are seen corrective and expected to give way to selling pressure later. Meanwhile, support is raised to the .6442 low of February and this should now underpin and sustain gains. Break here will expose the .6400 level and .6362 low to retest and threaten pullback to the .6300 level then .6270, October 2023 low.