Pressure remains on the upside and break above the 4.3000 level see room to further extend strong run-up from the 4.1000, September low
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 4.4000 | ** | 5 Aug low | S1 | 4.3000 | * | congestion | |
R3 | 4.3800 | * | Sep high | S2 | 4.2720 | * | 19 Sep high | |
R2 | 4.3660 | * | 38.2% Feb/Sep fall | S3 | 4.2500 | * | figure | |
R1 | 4.3300 | * | figure | S4 | 4.2250 | ** | 2023 year low |
Asterisk denotes strength of level
06:00 GMT - Pressure remains on the upside and break above the 4.3000 level see room to further extend strong run-up from the 4.1000, September low. Higher will see room to correct the February/September losses to the 4.3300 level then the 4.3660, 38.2% Fibonacci retracement. Beyond this will see room for stronger gains to the 4.3800 level and the 4.4000 figure. Meanwhile, support is raised to the 4.3000 level and this now underpin. Would take break here to open up deeper pullback to the 4.2720 then the 4.2500 level.