Lower in choppy trade from the 1.1090 high
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.1175 | * | 26 Oct 2022 high | S1 | 1.1030 | * | May high | |
R3 | 1.1155 | ** | 17 Jul YTD high | S2 | 1.0985/75 | ** | 17, 9 Oct lows | |
R2 | 1.1090 | * | 9 Oct high | S3 | 1.0950/45 | ** | congestion, Sep high | |
R1 | 1.1055 | congestion | S4 | 1.0900 | * | congestion |
Asterisk denotes strength of level
07:00 GMT - Lower in choppy trade from the 1.1090 high as prices consolidate strong gains from the September low. Nearby see see support starting at the 1.1030 May high and below here will see room for retest of strong support at the 1.0985/1.0975 higher lows. Break of the latter will confirm a top in placed at the 1.1090 high and see room for deeper pullback to retrace gains from the September low. Meanwhile, resistance at the 1.1055 congestion and 1.1090 high expected to cap. Would take break here to expose the 1.1155, July YTD high to retest.