Prices remains under pressure and break of the 1.3266 support see room to extend losses from the 1.3434 high
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.3500 | * | congestion | S1 | 1.3230 | 17 Sep high | ||
R3 | 1.3434 | ** | 26 Sep YTD high | S2 | 1.3200 | * | congestion | |
R2 | 1.3350 | * | congestion | S3 | 1.3142 | ** | Jul 2023 year high | |
R1 | 1.3312 | * | 25 Sep low | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
01:50 GMT - Prices remains under pressure and break of the 1.3266 support see room to extend losses from the 1.3434 high. Intraday and daily prices continues to track lower and see room to the 1.3230 support and 1.3200 congestion. Lower still, will see room to the strong support at 1.3142, 2023 year high, then the 1.3100 level. Losses from the 1.3434 high are seen corrective and expected to give way to fresh buying interest later. Meanwhile, resistance is lowered to the 1.3312/1.3350 area. Regaining this will return focus to the upside and see scope to retest the 1.3434 high.