Prices remain under pressure from the 1.1200/14 highs to extend break of the 1.1100 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.1275 | ** | Jul 2023 year high, 61.8% | S1 | 1.1025 | * | 3 Sep low | |
R3 | 1.1200/14 | ** | Aug, 25 Sep YTD highs | S2 | 1.1000 | ** | figure, Sep low | |
R2 | 1.1140 | * | Dec high | S3 | 1.0950 | * | Jul high | |
R1 | 1.1100 | * | congestion | S4 | 1.0915 | * | Jun high |
Asterisk denotes strength of level
01:40 GMT - Prices remain under pressure from the 1.1200/14 highs to extend break of the 1.1100 level. Daily studies continues to track lower and break of the 1.1050 congestion see room for deeper pullback to 1.1025 support then the 1.1000 September low. The latter is expected to underpin while break here will trigger a double top at the 1.1200/14 highs and see room for extension to the 1.0950/15 support. Meanwhile, resistance is lowered to the 1.1100 level which is expected to cap. Regaining this needed to fade the downside pressure and return focus to the upside.