Seems to be quite a bit of selling interest above 1.6000 level, which have basically capped the upside now for almost 1 ½ months. Key support is down at 1.5500 with more support at the reaction low of 24th of March at 1.5341. Expect it to trade fairly range bound ahead of tomorrow’s FOMC decision.
Support: 1.5500 (key level), 1.5341 (key level), 1.4967 (break out level)
Resistance: 1.5691 (yesterday’s high), 1.6018 (all time high)
240 min – 38.20% Fibonacci retracement of the 1.4438 to 1.6018 move is at 1.5414.
Trading inside the falling trend channel since mid March with falling resistance coming in at 2.0125 and the falling support at 1.9537 today. While the falling resistance of this trend channel holds up the momentum remains bearish.
Support: 1.9674 (25/4 daily low), 1.9537 (falling support), 1.9360, 1.9337 (key Jan low), 1.9310
Resistance: 2.0047 (4/4-08 high), 2.0125 (falling res from Nov07 highs)
120 min – Interim falling resistance kicking in at 1.9955 today with minor rising support at 1.9700.
Falling resistance from Dec07 high coming in at 1.0423 today, so expect this level to provide stiff resistance on the first test at least. Rising support is all the way down at 1.0065, so while above this trend line the technical medium term technical picture is bullish. A warning signal for bearish short term momentum would be a break below 1.0300 level.
Support: 1.0300 (minor support), 1.0065 (rising support), 0.9870, 0.9647 (all time low)
Resistance: 1.0423 (fallings resistance from Dec07 highs), 1.0529(former underlying support)
Trading inside a rising trend channel for quite some time now (see chart), support at 102.93 and overhead resistance at 107.33 and it is approaching several key resistance levels. The closest is 104.96 that was prior key support in January 08 and now should provide resistance. Then falling resistance from Sep07 highs is coming in at 106.41. So expect to see quite a bit of selling interest towards these levels.
Support: 102.93 (rising support), 100.00, 98.80, 95.70 (yearly low)
Resistance: 104.95 (Jan 2008 low), 105.83 (100 day moving avg.) 106.41(falling support from Sep07 highs), 107.33 (overhead res)
Tested key overhead resistance of 165.30 last week, but as expected the key level held up on the first test. The interim support can be found at the former break out level of 161.70 today and this level has to hold up to avoid a deeper correction lower.
Support: 161.70 (break out level) 159.00 (former break out level),157.64 (former falling res, now sup), 153.60, 151.70 (yearly low)
Resistance: 165.30 (key level, overhead resistance)
Key risings support from the 2008 low is coming in at 1.0058 today and this level needs to hold to keep the recent medium term bullish momentum intact. Key resistance remains the 2008 high of 1.0378. To the upside the falling interim falling resistance is coming in at 1.0258 today.
Support: 1.0056 (rising support from Nov07 low), 0.9710 (28/2 low)
Resistance: 1.0258 (falling res), 1.0378 (key level), 1.0400(former key support.)
The rising support at 0.7927 couldn’t hold last week, which has brought a short term downtrend in this pair at the moment. This down trend is intact below 0.7988 and the next key support is 0.7800.
Support: 0.7800, 0.7612 (former high), 0.7597(key level), 0.7515 (former res)
Resistance: 0.7988 (interim falling resistance), 0.8097 (high)
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