Prices remains under pressure and break of the 83.2740 support see room for deeper pullback to the 83.2000 congestion
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 83.6000 | * | figure | S1 | 83.2740 | * | Sep high | |
R3 | 83.5750 | ** | 19 Apr all-time high | S2 | 83.2000 | congestion | ||
R2 | 83.4550 | * | 4 Apr high | S3 | 83.1560 | * | 10 Apr low | |
R1 | 83.4250 | * | Nov high | S4 | 83.0450 | * | 21 Mar low |
Asterisk denotes strength of level
05:10 GMT - Prices remains under pressure and break of the 83.2740 support see room for deeper pullback to the 83.2000 congestion. Below this will extend the rejection from the 83.5750 all-time high and see room to the strong support at the 83.1560 low. This is expected to underpin and limit corrective pullback. However, break here will turn focus lower to retrace the March/April rally. Meanwhile, resistance is lowered to the 82.4250 high of November. This is now expected to cap and sustain losses from the 83.4550, 4 April high.