Currently above daily Downtrendline off year high (1.2804 today), with pair having tested channel top off 1.2522 (see graph).
1st Support area at 1.2805/ .02 (today’s low?), with next levels at 1.2788/ .73 (weekly/daily envelopes), ahead of 1.2760 (daily projection band bottom): tough on 1st tests.
1.2708 = broken LT daily Downtrendline off 2004 high = ideal area to stay above to keep current better mood on € intact.
Resistance area at 1.2847/ .58 (ST breakdown hourly/ daily envelope), with next levels at 1.2898/ .2900 (daily Bollinger top/ last week high), ahead of 1.2920 (see graph: channel top): difficult on 1st tests.
If wrong, 1.2939 = Aug 21 high, ahead of 1.2955/ .79 (daily Starc top/ tear high), where pause expected, amid ST overbought readings.
| SUPPORT | RESISTANCE |
| 117.65/ .55 (daily envelope/ today’s low?) | 117.94/ 118.03 (see above/ ST breakdown hourly) |
| 117.15/ .11 (last week low/ yesterday low) | 118.29 (broken daily LT MA↑ + yesterday high) |
| 116.95/ .63 (previous MT reaction low hourly/ | 118.59/ .98 (last week high + daily envelope/ daily projection |
For in-depth insight on other currency pairs:
- USD/YEN: (117.64) Back below neckline of double top
- EUR/GBP: (.6734) testing .6734
- EUR/JPY : (150.82) Above triangle pattern at apex
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