Little change, as prices extend consolidation above the 1.3578 support
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 1.3800 | * | 28 Nov 2022 high | S1 | 1.3578 | * | 18 Apr low | |
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 | 1.3450 | * | congestion |
Asterisk denotes strength of level
02:15 GMT - Little change, as prices extend consolidation above the 1.3578 support. However, descending triangle from the 1.3670 high keeps pressure on the downside and highlights risk for break to correct the strong run-up from the March low at 1.3270. Breakof the 1.3578 low will see room to the strong support at the 1.3550/1.3525 area which is expected to underpin. Would take break here to see deeper pullback to the 1.3500/1.3450 area. Meanwhile, resistance at the 1.3670 high expected to cap while break will turn focus to the 1.3750/65, the October 2023 year highs.