Break of the 1.3525 support saw follow-through below the 1.3500 level to reach the 1.3450/1.3438 support
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.3600 | figure | S1 | 1.3450/38 | * | congestion, 9 Apr low | ||
R3 | 1.3578 | * | 26 Apr low | S2 | 1.3400 | * | congestion | |
R2 | 1.3550 | * | congestion | S3 | 1.3365 | * | 21 Mar low, trendline | |
R1 | 1.3525 | * | Feb high | S4 | 1.3350 | * | congestion |
Asterisk denotes strength of level
02:25 GMT - Break of the 1.3525 support saw follow-through below the 1.3500 level to reach the 1.3450/1.3438 support. Bounce at the latter see prices consolidating steep drop from the 1.3660 high of last week to unwind the oversold intraday studies. Resistance is now at the 1.3525/1.3550 area then the 1.3578 previous low. Lower high sought to further pressure the downside later and break of the 1.3450/38 support will see room to the 1.3400 congestion then the 1.3365 support as well as lower channel from the late-December low.