Consolidation around the .6100/06 resistance area has given way to renewed selling pressure to retest the .6052/50 Fibonacci level and congestion
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
00:30 GMT - Consolidation around the .6100/06 resistance area has given way to renewed selling pressure to retest the .6052/50 Fibonacci level and congestion. Break here will see room to further extend losses from the September YTD high to the .6015/00 support. Lower still will see scope to .5975 support but oversold intraday and daily studies caution corrrective bounce. Meanwhile, resistance remains at the .6106/20 area and regaining this needed to ease the downside pressure and see room to the .6150 congestion. Above the latter will open up stronger bounce to the .6200/22 resistance.