The interim rising support on daily chart has held up since Thursday last week and while above this trend line the outlook remains bullish, coming in at 1.5744 today. Then key support is 1.5500 and a break below this level would be bearish. The false break out yesterday above 1.5900 level signals that it still is some supply up there, but I think if we see another test of that level it would break higher for sub 1.60 levels.
Support: 1.5744 (rising sup), 1.5500 (key level), 1.5344 (38,20% Fibonacci) 1.5104 (rising support), 1.4967 (break out level)
Resistance: 1.5914 (all time high), 1.6000(psychological level)
240 min Rising support coming in at 1.5744.
Bearish momentum is intact below 1.9944 today (falling res). A break above 1.9967 opens for higher levels. Have minor support at 1.9720 level with more support on that former overhead resistance line (now support), coming in at 1.9616 today.
Support: 1.9720 (break out level), 1.9650 (break out level), 1.9616 (former overhead res), 1.9360, 1.9337 (key Jan low), 1.9310
Resistance: 1.9944 (falling res), 2.0261 (falling res from Nov07 highs), 2.0447 (overhead res), 2.0570 (trend channel resistance)
120 min Falling resistance coming in at 1.9944.
Broke out of that mentioned triangle formation yesterday when breaking below 1.0025 rising support Wednesday. This opens for a test of that reaction low at 0.9870 near term. Bearish momentum intact below the falling resistance at 1.0170 today.
Support: 0.9870, 0.9647 (all time low)
Resistance: 1.0170 (falling res), 1.0290(former underlying support), 1.0350, 1.0728 (prior low), 1.0936 (break down level),
Quite choppy price action of late, but yesterdays break below 101.30 rising support halts the recent bullish momentum and opens for more downside. Next key level is former underlying support coming in at 100.00 (yesterdays low). Key falling resistance coming in at 102.98 today, expect to see selling pressure on the first test of this resistance line.
Support: 100.00, 98.80, 95.70 (yearly low)
Resistance: 102.98 (falling res), 103.60 (former underlying sup), 104.95 (former 2008 low), 105.70 (former key support)
Broke below that rising support at 160.44 yesterday, which is a bearish development and next key support is now the 157.64 level (former falling resistance, now support). Key resistance level at 161.73 (overhead resistance), held up as expected and was the place go get short.
Support: 159.00 (former break out level),157.64 (former falling res, now sup), 153.60, 151.70 (yearly low)
Resistance: 161.73 (overhead resistance), 162.17 (key res)
The move above 1.02 level yesterday is showing a bit of strength and might see another move towards that falling resistance at 1.0280. Key resistance level remains the 2008 high at 1.0378, while have interim rising support at 1.0089 today.
Support: 1.0089 (interim rising support), 0.9950 (rising support from Nov07 low), 0.9710 (28/2 low)
Resistance: 1.0280 (falling res), 1.0378 (key level, overhead res), 1.0400(former key support.)
Broke above the at 0.80 yesterday, confirming the bullish momentum is strongly intact. Rising support coming in at 0.7873 today and while above this level the outlook remains bullish. Overhead resistance kicking in at 0.8039 level, which I expect to see some selling interest from short term players.
Support: 0.7873 (interim rising sup), 0.7612 (former high), 0.7597(key level), 0.7515 (former res)
Resistance: 0.8039 (overhead resistance)
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