Break above the 83.4550 resistance extend bounce from the 83.2650 low of last week and expose the 83.5750 all-time high to retest
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 83.6500 | * | figure | S1 | 83.2650 | * | 24 Apr low | |
R3 | 83.6000 | * | figure | S2 | 83.2000 | congestion | ||
R2 | 83.5750 | ** | 19 Apr all-time high | S3 | 83.1560 | * | 10 Apr low | |
R1 | 83.5060 | * | 29 Apr high | S4 | 83.0450 | * | 21 Mar low |
Asterisk denotes strength of level
05:20 GMT - Break above the 83.4550 resistance extend bounce from the 83.2650 low of last week and expose the 83.5750 all-time high to retest. Bullish structure from the March low keep focus on the upside and clearance here, but not expected, will see room for extension to 83.6000/83.6500 area. Meanwhile, support remains at the 83.2650 low of last week. Would take break here to open the 83.2000 congestion and 83.1560, 10 April low to retest. Below these needed to weaken and further retrace the rally from the March low.