Bulls came back to play after the price broke above congestion tops at 1.3080. Fresh strength through initial barriers at 1.3121/45, opens way towards 1.3205, 11/07 peak, setting scope for further retracement of 1.3414/1.2754 downleg. Break above 1.3205 is required to open 1.3258, next target, Fibonacci 76.4% retracement and 21/06 high, seen as next target. Positive tone on lower timeframes studies and daily close above 200DMA, supports the notion, while previous resistances at 1.3100/1.3080 offer immediate support, while key support and breakpoint lies at 1.3000 higher platform.
Res: 1.3173; 1.3205; 1.3258; 1.3300
Sup: 1.3125; 1.3100; 1.3080; 1.3050
The price bounced from short-term consolidation floor and cracked the upper boundary at 1.5140 zone, signaling possible extension higher and retest of key short-term hurdle at 1.5220. However, lack of momentum for final push higher, with hourly studies being overall neutral, would question short-term bulls. Failure to regain 1.5200/20 barriers, would signal prolonged sideways trading. Initial support at 1.5100 holds for now, while more downside risk would be seen on violation of range floor at 1.5030 zone.
Res: 1.5142; 1.5167; 1.5192; 1.5220
Sup: 1.5100; 1.5075; 1.5056; 1.5043
The pair remains under pressure, following Monday’s rejection at 100.47 and subsequent reversal that dented 99.00 support. Further extension of downmove from 100.47 would threaten 98.22, 11/07 low and psychological 98.00 support, reinforced by 100DMA, as short-term indicators hold in the negative territory and keep the downside favored. Corrective rallies are expected to stay under 100.47 high.
Res: 99.53; 100.00; 100.47; 100.62
Sup: 99.00; 98.88; 98.56; 98.22
The pair returned to strength and extended short-term recovery rally from 0.8997 low, with eventual break above 0.9200 barrier, seeing scope for further gains and full retracement of 0.9304/0.8997 downleg. Positive short-term technicals support the notion, however, consolidative/corrective action on overbought hourly studies, may delay bulls, with dips to be ideally contained at 0.9160 zone, 38.2% retracement of 0.8997/0.9259 rally / 20/55DMA bullish crossover. Key upside barriers lay at 0.9304/43 and break here is required to spark stronger correction and sideline broader bars.
Res: 0.9237; 0.9259; 0.9304; 0.9343
Sup: 0.9200; 0.9160; 0.9120; 0.9085