Lower in consolidation from the strong resistance at the 7.2340 high of February
Level | Imp | Comment | Level | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 7.2740 | * | 25 Apr high | S1 | 7.2200 | congestion | ||
R3 | 7.2600 | * | congestion | S2 | 7.2000 | * | Dec high, congestion | |
R2 | 7.2415 | * | 18 Apr low | S3 | 7.1800 | * | congestion | |
R1 | 7.2340 | * | Feb high | S4 | 7.1650 | * | 3 May low |
04:00 GMT - Lower in consolidation from the strong resistance at the 7.2340 high of February. Gains beyond this, if seen, likely to prove limited with higher resistance at the 18 April low at 7.2415 expected to cap gains. Gains from the 7.1650 low are seen corrective and expected to give way to selling pressure later. Meanwhile, support is raised to the 7.2200 congestion then the 7.2000 congestion and high of December. Would take break of these to return focus to the downside for retest of the 7.1800 congestion then the 7.1650 low. Below this will see room to the 7.1600/7.1500 area.