Little change, as prices extend consolidation below the 1.3100 high and unwind the oversold intraday studies
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.3184 | * | 5 Aug low | S1 | 1.3000 | * | Aug low | |
R3 | 1.3158 | ** | Dec low | S2 | 1.2950 | * | 6 Sep low | |
R2 | 1.3125 | * | 38.2% Apr/Sep fall | S3 | 1.2900 | * | congestion | |
R1 | 1.3100 | * | 3 Sep high | S4 | 1.2860 | * | congestion |
Asterisk denotes strength of level
02:30 GMT - Little change, as prices extend consolidation below the 1.3100 high and unwind the oversold intraday studies. Limited pullback from the high keep pressure on the upside and higher will see room for stronger gains to retrace the April/September losses. Nearby see scope to the target 1.3125, 38.2% Fibonacci level then the strong resistance at the 1.3158, December low. Meanwhile, support remains at the 1.3100 level and this now underpin. Break here will return focus to the downside and see room to the 1.2950 support then the 1.2900 congestion.