- The pair remains sidelined in the bottom end of the recent range following Thursday’s bearish ‘outside day’.
- The short-term resistance line – today at 1.1735 – continues to cap the upside, while further retracement is expected below it. Interim resistance ahead of this important hurdle is reinforced by the 21-day SMA at 1.1683 and the base of the daily cloud.
- Looking south, the 1.1570 area should hold the initial test, ahead of 1.1527 and YTD lows in the 1.1500 neighbourhood.
Daily high: 1.1665
Daily low: 1.1648
Support Levels
S1: 1.1629
S2: 1.1602
S3: 1.1584
Resistance Levels
R1: 1.1674
R2: 1.1692
R3: 1.1719
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