Consolidating below the .6550 congestion but the bullish run-up from the .6362 low suggest scope for break
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 0.6668 | * | Mar high | S1 | 0.6480 | 1 Apr low | ||
R3 | 0.6644/50 | * | Apr high, congestion | S2 | 0.6442 | * | Feb low | |
R2 | 0.6600 | * | congestion | S3 | 0.6400 | figure | ||
R1 | 0.6550 | * | congestion | S4 | 0.6362 | ** | 19 Apr YTD low |
Asterisk denotes strength of level
00:00 GMT - Consolidating below the .6550 congestion but the bullish run-up from the .6362 low suggest scope for break. Higher will see room for further extension to the .6600 level. Gains beyond this, but not expected, will return focus to the .6644/.6668 highs. Meanwhile, support is raised to the .6500/.6480 area and this is now expected to underpin and limit corrective pullback. Would take break here to return focus to the downside for retest of the .6442 February low then the .6400/.6362 lows. Below these will open up losses to the .6300 level then .6270, October 2023 low.