Turned up in range from the 1.0810 low as prices consolidate recent steep drop from the September high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.1000 | ** | Sep low | S1 | 1.0810 | * | 17 Oct low | |
R3 | 1.0950 | * | Jul high | S2 | 1.0778 | * | Aug low | |
R2 | 1.0900 | * | congestion | S3 | 1.0750 | ** | Oct 2023 trendline | |
R1 | 1.0875 | * | 17 Oct high | S4 | 1.0700 | * | congestion |
Asterisk denotes strength of level
01:35 GMT - Turned up in range from the 1.0810 low as prices consolidate recent steep drop from the September high. Prices are unwinding the deep oversold daily studies and suggest scope for bounce to the 1.0900 congestion. Regaining this will open up room for stronger recovery to the 1.0950 resistance then the 1.1000, September low which is expected to cap. Meanwhile, support is raised to the 1.0850 congestion and should now underpin and sustain bounce from the 1.0810 low. Failure to hold the latter will open up deeper losses to the 1.0778/50, August low and the October 2023 trendline.