Remains in consolidation below the 1.1200 level and August YTD high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.1495 | ** | Feb 2022 year high | S1 | 1.1140 | * | Dec high | |
R3 | 1.1400 | * | congestion | S2 | 1.1100 | * | congestion | |
R2 | 1.1275 | ** | Jul 2023 year high, 61.8% | S3 | 1.1050 | * | congestion | |
R1 | 1.1200 | ** | 23, 26 Aug YTD highs | S4 | 1.1000 | ** | figure, 11 Sep low |
Asterisk denotes strength of level
01:15 GMT - Remains in consolidation below the 1.1200 level and August YTD high. However, choppy trade keeping pressure on the upside and suggest scope for break to extend gains from the support at the 1.1000 higher low. Clearance will open up further extension to target strong resistance at the July 2023 year high at 1.1275 where reaction is expected. Meanwhile, support is raised to the December high at 1.1140. Below here will see room for deeper pullback to the 1.1100/1.1050 congestion area level which is expected to underpin corrective pullback.