Little change, as prices extend consolidation above the .6052/50, 61.8% Fibonacci retracement and congestion area
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6250 | * | congestion | S1 | .6052/50 | ** | 61.8%, congestion | |
R3 | .6200/22 | ** | congestion, June high | S2 | .6015 | 15 Aug high | ||
R2 | .6150 | * | congestion | S3 | .6000 | * | figure, congestion | |
R1 | .6106 | * | Sep low | S4 | .5975 | * | 15 Aug low |
Asterisk denotes strength of level
00:25 GMT - Little change, as prices extend consolidation above the .6052/50, 61.8% Fibonacci retracement and congestion area. However, the oversold intraday and daily studies suggest scope for correction to retrace steep drop from .6380, September YTD high. Resistance is at the .6106/20 area and lift over this will see room for gains to the .6150 congestion. Above the latter will open up stronger bounce to the .6200/22 resistance, which is expected to cap. Meanwhile, break of the .6052/.6050 support will open up room for continuation to the .6015 support and the .6000 figure.