Prices remains under pressure and break of the .6250 support see room to further extend losses from the .6370/80 highs
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6412 | * | Jul 2023 high | S1 | .6222/00 | ** | Jun high, congestion | |
R3 | .6370/80 | ** | Dec, 30 Sep YTD high | S2 | .6175 | * | 17 Sep low | |
R2 | .6300 | * | Aug high | S3 | .6150 | * | 4 Sep low | |
R1 | .6250 | * | congestion | S4 | .6106 | ** | 11 Sep low |
Asterisk denotes strength of level
00:25 GMT - Prices remains under pressure and break of the .6250 support see room to further extend losses from the .6370/80 highs. Prices now weighing on the strong support at the .6222/00 area with oversold intraday studies suggesting consolidation here likely before scope for break lower. Below this will see room to the .6175/50 support. Losses are seen corrective and this is expected to give way to renewed buying interest later. Meanwhile, resistance is lowered to .6250/.6300 area and clearance here will open up the .6370/80s high to retest.