Bounce from the .6250 support retracing the sharp pullback from the .6355 fresh year high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6412 | * | Jul 2023 high | S1 | .6250 | * | congestion | |
R3 | .6412 | * | Jul 2023 high | S2 | .6222/00 | * | Jun high, congestion | |
R2 | .6370 | ** | Dec 2023 high | S3 | .6170 | * | 4 Sep low | |
R1 | .6355 | ** | 25 Sep YTD high | S4 | .6150 | * | congestion |
Asterisk denotes strength of level
00:35 GMT - Bounce from the .6250 support retracing the sharp pullback from the .6355 fresh year high as intraday studies unwind oversold readings. However, the daily studies remains overbought and suggest choppy trade likely beneath the latter and the .6370, December high. Clearance, if seen, will extend the broader gains from the October 2023 low and turn focus to the .6400 level then .6538, 2023 year high. Meanwhile, support at the .6250 congestion underpin. would take break here to open up deeper pullback to retrace rally from the .6106 low to the .6200 level.