Today's Support and Resistance Levels:
R3: 143.24
R2: 142.89
R1: 142.74
Current Spot: 142.60
S1: 142.42
S2: 142.14
S3: 141.86 - Important support - Break below indicates a top being in place.
Technical Summary:
As resistance at 142.49 was broken we knew, that a new high above 142.89 is needed to finish this rally.
Short term expect support at 142.42 to protect the downside for the last rally higher towards 143.24 where an important top should be found. From 143.24 or upon a break below 141.86 a major correction towards at least 124.95 should develop. This correction will be the biggest we have seen, both time- and pricewise since the 94.10 low.
Today's Support and Resistance Levels:
R3: 1.6869
R2: 1.6808
R1: 1.6739
Current Spot: 1.6692
S1: 1.6672
S2: 1.6630
S3: 1.6597
Technical Summary:
Nothing much is going on with this currency pair, right now. I'm still looking for a rally higher towards 1.6869 to end the leading diagonal. Once finished we should look for a small correction before the next powerful rally higher.
Short term expect support at 1.6672 will protect the downside for the rally higher towards 1.6869. Only a break below 1.6672 will delay the upside pressure for a decline towards 1.6569 before renewed upside pressure takes over again.
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