Strong bounce from the 4.1000 level has seen gains falling just shy of the 4.3000 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 4.3790 | * | Sep high | S1 | 4.2720 | * | 19 Sep high | |
R3 | 4.3650 | * | 22 Aug low | S2 | 4.2350 | * | 4 Oct high | |
R2 | 4.3080 | ** | Aug low | S3 | 4.2250 | ** | 2023 year low | |
R1 | 4.3000 | * | figure | S4 | 4.2000 | * | figure |
Asterisk denotes strength of level
02:30 GMT - Strong bounce from the 4.1000 level has seen gains falling just shy of the 4.3000 level as prices settled back in consolidation and unwind the overbought intraday and daily studies. A later break above 4.2980 high and the 4.3000 level will see room for extension to further correct the steep drop from the February YTD high. Meanwhile, support is raised to 4.2720, the 19 September high. Below this will see room for deeper pullback to the strong support at the 4.2350/4.2250 area which is expected to underpin.