- The pair remains under pressure at the beginning of the week although it managed to rebound from daily lows in the 1.1590/85 band.
- A drop below Friday’s low at 1.1567 should open the door for a potential test of September’s low at 1.1526.
- Further downside should meet support at 1.1508 initially.
- A reversion of the current downside bias should regain the short-term support line, today at 1.1706, to allow for a resumption of the up trend.
Daily high: 1.1619
Daily low: 1.1573
Support Levels
S1: 1.1565
S2: 1.1527
S3: 1.1483
Resistance Levels
R1: 1.1648
R2: 1.1691
R3: 1.1730
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