- The pair keeps navigating the 1.1700 neighbourhood so far – where coincide recent gains and the 38.2% Fibo of the 2017-2018 up move – giving away some gains following the recent sharp up move.
- The next relevant target remains at the 1.1745/50 band, although the inability to surpass it on a sustainable basis could prompt sellers to return to the market and resume the downside.
- Past 1745/50 aligns 1.1790, considered the last defence of a probable visit to June’s tops in the mid-1.1800s.
- The resumption of the selling mood should meet interim support at the 55-day SMA at 1,1617 ahead of 1.1540, the 21-day SMA. The down move should pick up pace on a close below the 1.1500 neighbourhood.
Daily high: 1.1719
Daily low: 1.1674
Support Levels
S1: 1.1669
S2: 1.1631
S3: 1.1611
Resistance Levels
R1: 1.1728
R2: 1.1749
R3: 1.1787
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