Today's Support and Resistance Levels:
R3: 141.87
R2: 141.29
R1: 140.83
Current Spot: 140.62
S1: 140.37
S2: 140.13
S3: 139.74
Technical Summary:
The minor triangle broke towards the downside for a test of support at 140.13 before renewed upside pressure emerged. Besides the small detour nothing has changed and I'm still looking for a move higher towards the ideal target at 142.26 before the x-wave from 136.23 finally comes to and end and the next decline towards the 38.2% corrective target of the rally from 94.10 to 145.69 sets in.
Today's Support and Resistance Levels:
R3: 1.6567
R2: 1.6538
R1: 1.6498
Current Spot: 1.6477
S1: 1.6460
S2: 1.6445
S3: 1.6410
Technical Summary:
The failure to break clearly above 1.6509 keeps the 1.6445 target alive. Short term minor resistance at 1.6498 should protect the upside for the last decline towards the 1.6445 target to end wave 2 and set the stage for wave 3 higher. Only a break above minor resistance and more importantly a break above resistance at 1.6538 indicates that wave 2 is over and wave 3 is developing for a rally higher towards at least 1.7141.
