Extending rejection from the 1.6680 resistance and trendline from the August high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.6800 | 17 Nov high | S1 | 1.6500 | * | congestion | ||
R3 | 1.6745 | ** | 5 Mar YTD high | S2 | 1.6455 | * | congestion | |
R2 | 1.6680 | * | 19 Mar high | S3 | 1.6400 | * | congestion | |
R1 | 1.6600 | * | congestion | S4 | 1.6365 | * | 10 Apr low |
06:35 GMT - Extending rejection from the 1.6680 resistance and trendline from the August high to reach the 1.6500 level. Clear break here will open up deeper pullback to the 1.6455 support. Lower still will see room to the 1.6400 congestion then the strong support at the 1.6365/1.6350 lows. Below the latter will see room for deeper pullback within the bearish channel from the 1.7065, August 2023 year high. Meanwhile, resistance is lowered to the 1.6600 level, which is now expected to cap and sustain losses from the 1.6680, spike high.