Prices remain under pressure but no clear break of the 1.3045 support
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.3310 | * | 25 Sep low | S1 | 1.3045 | ** | Jul high | |
R3 | 1.3266 | ** | Aug high | S2 | 1.3000 | ** | Sep low, 38.2% | |
R2 | 1.3200 | * | congestion | S3 | 1.2950 | * | congestion | |
R1 | 1.3142 | * | Jul 2023 year high | S4 | 1.2900/95 | ** | congestion, Mar high |
Asterisk denotes strength of level
01:45 GMT - Prices remain under pressure but no clear break of the 1.3045 support. However, the stretched intraday and daily studies suggest strong support at the 1.3045/1.3000 area expected to underpin and rebound here can be expected. Meanwhile, resistance remains at the 1.3142, the 2023 year high and clear break here needed to open up 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. Meanwhile, failure to hold the 1.3000 level will see room to 1.2950 congestion and 1.2900/1.2895 support.