Clear break above the .5950 resistance extends gains from the low of last week to reach .5985 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6083 | * | 10 Apr high | S1 | .5920/00 | congestion, figure | ||
R3 | .6050 | * | congestion | S2 | .5860 | ** | 17 Apr YTD low | |
R2 | .6000 | * | congestion | S3 | .5800 | * | congestion | |
R1 | .5985 | 29 Apr high | S4 | .5773 | ** | 26 Oct 2023 year low |
Asterisk denotes strength of level
00:30 GMT - Clear break above the .5950 resistance extends gains from the low of last week to reach .5985 high. Positive daily studies suggest room for further gains and higher will see scope to the strong resistance at the .6000 level then the .6050 congestion area. Meanwhile, support is raised to the .5920/00 area which is expected to underpin. Would take break here to expose the .5860 low to retest. Below the latter will see scope to further extend losses from the late-December high to the .5800 level then the .5773, 2023 year low.