Coming under fresh selling pressure and clear break of the 1.3600 level will open up deeper pullback from the 1.3670 high
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
02:20 GMT - Coming under fresh selling pressure and clear break of the 1.3600 level will open up deeper pullback from the 1.3670 high. Prices seen unwinding the overbought intraday and daily studies and lower through the 1.3578 low of last week will trigger deeper correction of the strong run-up from the 1.3270, March low. Nearby see strong support at the 1.3550/1.3525 area and break here will see room to the 1.3500/1.3450 area. Meanwhile, resistance at the 1.3670 high now expected to cap.