Break of the 1.6365/50 support extending losses from the 1.6745 March YTD high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.6600 | * | congestion | S1 | 1.6300 | intraday low | ||
R3 | 1.6500 | * | 24 Apr high | S2 | 1.6260 | 8 Jan low | ||
R2 | 1.6455 | * | congestion | S3 | 1.6200 | * | congestion | |
R1 | 1.6400 | congestion | S4 | 1.6130 | ** | 2 Jan low |
07:30 GMT - Break of the 1.6365/50 support extending losses from the 1.6745 March YTD high to reach the 1.6300 level. Below this see room to the 1.6260 support. Break of the latter will return focus to the 1.6130, January year low though stretched daily studies suggest the latter out of reach for now and caution corrective bounce. Meanwhile, resistance is lowered to the 1.6400/1.6455 congestion area, now expected to cap and sustain losses from the 1.6680, 19 Apr high and channel resistance from the August 2023 high.