Bullish run-up has seen break above the .6600 level to reach the .6644/50 resistance
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 0.6750 | * | congestion | S1 | 0.6585 | * | 29 Apr high | |
R3 | 0.6675 | * | 61.8% Dec/Apr fall | S2 | 0.6550 | congestion | ||
R2 | 0.6668 | * | Mar high | S3 | 0.6500 | * | congestion | |
R1 | 0.6650 | * | congestion | S4 | 0.6465 | * | 1 Mar low |
Asterisk denotes strength of level
00:15 GMT - Bullish run-up has seen break above the .6600 level to reach the .6644/50 resistance. Nearby see resistance at the .6668/75, March high and 61.8% Fibonacci retracement level though stretched intraday studies suggest the latter should limits gains and some unwinding likely. However, a latter break not ruled out and clearance will see room for extension to the .6700/50 congestion. Meanwhile, support is raised to the .6585/.6550 area and this should now underpin and limit corrective pullback and sustain rally from the .6465, higher low.