Little change, as prices steadied within a narrow range above the 1.3060 low
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.3310 | * | 25 Sep low | S1 | 1.3060 | * | 7 Oct low | |
R3 | 1.3266 | ** | Aug high | S2 | 1.3045 | ** | Jul high | |
R2 | 1.3200 | * | congestion | S3 | 1.3000 | ** | Sep low, 38.2% | |
R1 | 1.3142 | * | Jul 2023 year high | S4 | 1.2950 | * | congestion |
Asterisk denotes strength of level
01:35 GMT - Little change, as prices steadied within a narrow range above the 1.3060 low. Prices are unwinding the oversold intraday studies but further losses cannot be ruled out though the stretched daily studies suggest strong support nearby at the 1.3045/1.3000 area expected to underpin. Meanwhile, resistance is lowered to the 1.3142, the 2023 year high. Above here will see room for stronger bounce to the 1.3200 congestion then the 1.3266, August high. Regaining the latter will return focus to the upside and see scope to retest the 1.3400 level then 1.3434 high.