Turned up in consolidation above support at the .6650/45 congestion and 50% Fibonacci retracement
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 0.6855 | * | 1 Oct low | S1 | 0.6658 | * | 16 Oct low | |
R3 | 0.6800/20 | ** | Jul high, congestion | S2 | 0.6645 | * | 50% Aug/Sep rally | |
R2 | 0.6760 | * | 11 Oct high | S3 | 0.6622 | ** | Sep low | |
R1 | 0.6700 | * | congestion | S4 | 0.6600 | * | congestion |
Asterisk denotes strength of level
00:10 GMT - Turned up in consolidation above support at the .6650/45 congestion and 50% Fibonacci retracement as prices unwind oversold intraday and daily studies. Bounce from the .6658 low see pressure now turning to the .6700 level and break here will open up stronger recovery to retrace losses from the September high to the .6750/60 resistance. Closed above here will see room to the strong resistance at the .6800/20, July/August highs. Meanwhile, support at the .6650/45 area now underpin. Break here, if seen, will open up further losses to retest the .6622, September low.