Break above the September high at 0.8550 extend gains from the .8375 low to reach the .8600 level
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 0.8750 | * | 15 Aug high | S1 | 0.8550 | * | Sep high | |
R3 | 0.8700 | * | 38.2% May/Sep fall | S2 | 0.8500 | * | congestion | |
R2 | 0.8650 | * | congestion | S3 | 0.8400 | * | congestion | |
R1 | 0.8600 | * | congestion | S4 | 0.8375 | ** | 6 Sep YTD low |
Asterisk denotes strength of level
06:35 GMT - Break above the September high at 0.8550 extend gains from the .8375 low to reach the .8600 level. Consolidation here see prices unwinding overbought intraday studies with scope for fresh gains later. Clearance will further retrace the May/September losses and see room to the .8650 congestion then .8700 level and 38.2% Fibonacci retracement. Break here, if seen, will open up further extension to the .8750 resistance. Meanwhile, support is raised to the .8550 high of September then the .8500 congestion, now expected to underpin.