Consolidation above the 1.6400 level has given way to break lower to extend losses from the 1.6680 resistance
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.6745 | ** | 5 Mar YTD high | S1 | 1.6365 | * | 10 Apr low | |
R3 | 1.6680 | * | 19 Mar high | S2 | 1.6350 | * | 30 Jan low | |
R2 | 1.6600 | * | congestion | S3 | 1.6320 | * | Sep low | |
R1 | 1.6500 | congestion | S4 | 1.6260 | 8 Jan low |
06:50 GMT - Consolidation above the 1.6400 level has given way to break lower to extend losses from the 1.6680 resistance. Below this opens up the strong support at the 1.6365/50 lows to retest. Break here will extend the bearish pressure from the March YTD high at 1.6745 and further extend pullback within the bearish channel from the August high. Lower will see room to the 1.6320/1.6300 area and 1.6260 support. Break of these will return focus to the 1.6130, January year low. Meanwhile, resistance at the 1.6500 congestion now expected to cap.