Prices remains under pressure and see room to extend pullback from the .6370/80 resistance
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6450 | * | congestion | S1 | .6250 | * | congestion | |
R3 | .6412 | * | Jul 2023 high | S2 | .6222/00 | ** | Jun high, congestion | |
R2 | .6370/80 | ** | Dec, 30 Sep YTD high | S3 | .6170 | * | 4 Sep low | |
R1 | .6300 | * | Aug high | S4 | .6150 | * | congestion |
Asterisk denotes strength of level
00:20 GMT - Prices remains under pressure and see room to extend pullback from the .6370/80 resistance. Nearby see the .6250 support at risk as daily studies tracks lower from overbought readings and retrace the strong run-up from the .6106, September low. Lower will open up deeper pullback to the strong support at the .6222/.6200 area, which is expected to underpin. Meanwhile, resistance remains at the .6300 level and expected to cap and sustain losses from the .6370/80 highs.