- Spot comes back to the 1.1740 region after Monday’s bullish move to the 1.1800 neighbourhood lacked of follow through.
- The pair’s outlook, however, remains constructive while above the 1.1670/58 band, where converge the 10- and 21-day SMA. Above here, the door remains open for a test of the key area in the mid-1.1800s, where sit June’s peaks and the 38.2% Fibo retracement of the April-May down move.
- On the downside, hourly lows in the 1.1730 region should offer interim contention ahead of 1.1718 (December 2017 low).
- Daily RSI (14) stays around 54 for the time being, also indicative of a consolidative phase.
Daily high: 1.1763
Daily low: 1.1732
Support Levels
S1: 1.1725
S2: 1.1700
S3: 1.1667
Resistance Levels
R1: 1.1784
R2: 1.1816
R3: 1.1842
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