Slightly exceed the 1.3665 resistance to reach fresh year high at 1.3670
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.3800 | * | 28 Nov 2022 high | S1 | 1.3600 | * | congestion | |
R3 | 1.3750/65 | ** | Oct 2023 year high | S2 | 1.3550 | * | congestion | |
R2 | 1.3700 | * | congestion | S3 | 1.3525 | ** | Feb high | |
R1 | 1.3670 | ** | 16 Apr YTD high | S4 | 1.3500 | * | congestion |
Asterisk denotes strength of level
02:05 GMT - Slightly exceed the 1.3665 resistance to reach fresh year high at 1.3670 before settling back to consolidate strong rally from the 1.3438 low of last week. Prices are now unwinding the stretched intraday and daily studies with support now raised to the 1.3600 level. Would take break here to trigger deeper pullback to the strong support at the 1.3550/25, previous highs. Meanwhile, break above the 1.3670 high will open up room to the 1.3700 level. Beyond this, but not seen for now, will shift focus to the 1.3750/1.3765, October 2023 year highs.