Pressure remains on the upside with fresh high above the 1.3400 level opening up scope to the 1.3440 resistance
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.3600 | * | congestion | S1 | 1.3350 | * | congestion | |
R3 | 1.3550 | * | congestion | S2 | 1.3266/50 | * | Aug high, congestion | |
R2 | 1.3500 | * | congestion | S3 | 1.3200 | * | congestion | |
R1 | 1.3440 | 25 Dec 2022 high | S4 | 1.3142 | ** | Jul 2023 year high |
Asterisk denotes strength of level
02:05 GMT - Pressure remains on the upside with fresh high above the 1.3400 level opening up scope to the 1.3440 resistance. Higher will further extend the broader gains from the 2022 all-time low and see room to the 1.3500 congestion. However, deep overbought daily studies caution corrective pullback to the 1.3350 intraday congestion. Lower will see scope for deeper pullback to the 1.3266/50, August high and congestion area, which is expected to underpin. Break of the latter will see room for deeper correction to the 1.3200 level and 1.3142 support.