Edged up from the 1.2975 low to consolidate at the 1.3000 level
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.3200 | * | congestion | S1 | 1.2950 | * | congestion | |
R3 | 1.3142 | * | Jun 2023 year high | S2 | 1.2900/95 | ** | congestion, Mar high | |
R2 | 1.3100 | * | congestion | S3 | 1.2865/60 | * | 50% Apr/Sep rally, Jun high | |
R1 | 1.3045 | * | Jul high | S4 | 1.2800 | * | congestion |
Asterisk denotes strength of level
01:40 GMT - Edged up from the 1.2975 low to consolidate at the 1.3000 level as prices unwind the stretched intraday studies. However, further losses cannot be ruled out and clear break of the 1.3000 level will see room for further slide to strong support at the 1.2895/1.2860, March/June highs as well as the 50% Fibonacci level. Meanwhile, resistance is lowered to the 1.3045, July high. Break here will ease the downside pressure and see room for stronger gains to the 1.3100 level and resistance at 1.3142, the June 2023 year high.