Extending sharp pullback from the 1.1200/14 high to retest support at the 1.1025/00, September lows
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
01:30 GMT - Extending sharp pullback from the 1.1200/14 high to retest support at the 1.1025/00, September lows. Pause here see prices unwinding the oversold intraday studies though daily studies remains under pressure and highlights risk for break to trigger a double top at the August/September highs and see room for extension to the 1.0950/15 support. Meanwhile, resistance is lowered to the 1.1080/00 area and this is now expected to cap. Regaining this needed to fade the downside pressure and return focus to the upside.