Break above the 1.2518 resistance has seen gains to 1.2570 high.
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.2709 | * | 9 Apr high | S1 | 1.2450 | congestion | ||
R3 | 1.2665 | * | 61.8% Mar/Apr fall | S2 | 1.2405 | * | 16 Apr low | |
R2 | 1.2600 | * | 50% Mar/Apr fall | S3 | 1.2337 | * | Oct high | |
R1 | 1.2570 | 29 Apr high | S4 | 1.2300 | ** | 22 Apr YTD low |
Asterisk denotes strength of level
02:00 GMT - Break above the 1.2518 resistance has seen gains to 1.2570 high. Higher will see room to the 1.2600 level to retrace 50% of the March/April losses though the intraday and daily studies are now stretched and caution corrective pullback. Meanwhile, support is raised to the 1.2450 congestion then the 1.2405/00 area which should now underpin and limit pullback. A later break here will open up the 1.2337 support then the 1.2300 YTD low to retest. Below the latter will see room to extend losses from the March high to the 1.2261 support and 1.2200 congestion.