Today's Support and Resistance Levels:
R3: 140.07
R2: 139.69
R1: 139.42
Current Spot: 139.31
S1: 138.95
S2: 138.68
S3: 138.17
Technical Summary:
The price behavior is still not convincing, but as we approach the decision point we will soon see a clarification, whether we shall see an impulsive red wave (iii) decline or whether we are in wave B of a flat correction. As long as resistance at 140.07 stays intact I will look for a break below support at 138.68 confirming that red wave (iii) lower towards 131.93. Only a break above resistance at 140.07 invalidates the downside pressure and will call for a rally higher towards at least 143.17 and likely even closer to 145.69 in a flat correction.
Today's Support and Resistance Levels:
R3: 1.6459
R2: 1.6420
R1: 1.6395
Current Spot: 1.6378
S1: 1.6339
S2: 1.6327
S3: 1.6298
Technical Summary:
I'm looking for a break above resistance at 1.6420 soon, this break will confirm acceleration higher towards at least 1.6632. Short term support at 1.6339 will ideally protect the downside for the break above resistance at 1.6420 for the expected acceleration higher. An unexpected break below 1.6339 will delay the upside pressure for a move closer to 1.6298 before renewed upside pressure should be seen.
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