Recovery attempt from today’s fresh low at 1.3970, stalled at 1.4150, as break above 20day MA failed to hold gains. Subsequent reversal to the levels near 1.4000 mark signals the pair coming under pressure, with 1.4000/1.3970 in focus again. Loss of the latter opens way towards 1.3950 initially, ahead possible attempt at key support at 1.3836. On the upside, 1.4080/1.4100 offers initial resistance, while only clearance of today’s high at 1.4150 improves near-term outlook.
Res: 1.4080, 1.4100, 1.4150, 1.4170
Sup: 1.4017, 1.4000, 1.3970, 1.3950
Short-term bears remain in play after break below 200 day MA extended weakness to fresh 7-week low at 1.5920 and corrective bounce stalled on approach to the initial barrier at 1.6065. While 20 day MA caps the upside, immediate focus is at 1.5920/00, loss of which would expose key support at 1.5779 for retest.
Res: 1.6011, 1.6038, 1.6063, 1.6086
Sup: 1.5954, 1.5920, 1.5903, 1.5850
Maintains near-term positive structure after yesterday’s rally broke above the one-month range and tested recent high at 77.68. Subsequent two-legged pullback has so far found support at 77.00 zone and holding above here keeps scope for fresh recovery through 77.68, to test 78.00/45 next. Loss of 77.00 handle, however, would suggest another false break higher and return back to directionless trading.
Res: 77.40, 77.70, 77.84, 78.00
Sup: 77.06, 76.71, 76.51, 76.41
Trades in a narrow consolidative range after yesterday’s strong gains peaked at 0.8624. Further reversal is not ruled out at this stage, as near-term conditions are overbought. Initial support at 0.8540 holds the downside for now, keeping the immediate focus at 0.8624, clearance of which to open fresh leg higher and expose 0.8750 next.
Res : 0.8609, 0.8624, 0.8700, 0.8746
Sup: 0.9565, 0.8540, 0.8500, 0.8470