Rally through the January high at .6330 reached fresh year high at .6355 before turning sharp lower
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6412 | * | Jul 2023 high | S1 | .6250 | * | congestion | |
R3 | .6370 | ** | Dec 2023 high | S2 | .6222/00 | * | Jun high, congestion | |
R2 | .6355 | ** | 25 Sep YTD high | S3 | .6170 | * | 4 Sep low | |
R1 | .6300 | * | Aug high | S4 | .6150 | * | congestion |
Asterisk denotes strength of level
00:30 GMT - Rally through the January high at .6330 reached fresh year high at .6355 before turning sharply lower as prices unwind the deep overbought intraday and daily studies. Break of the .6300 level see room for deeper pullback to retrace rally from the .6106 low to the .6250 congestion. Lower still will see scope to support at the .6222/.6200, June high and congestion area. Meanwhile, resistance is lowered to the high of August at .6300 which should cap and sustain losses from the .6355 high.