Currently back below daily Downtrendline off year high (1.2798 today), with pair having failed to recapture the broken channel off 1.2522 (see graph).
1st Support area at 1.2753/ .43 (daily envelope/ weekly ST MA↑ + see graph: Flag bottom) tough on 1st tests. 1.2704 = broken LT daily Downtrendline off 2004 high = ideal area to stay above to keep current better mood on € intact.
Resistance area at 1.2801 (daily ST MA↓), with next levels at 1.2826 (daily envelope), ahead of 1.2840 (ST high hourly): difficult on 1st tests. If wrong, 1.2871/ .77 (previous highs hourly), ahead of 1.2900/ .03 (last week high/ daily Bollinger top), where pause expected, amid ST overbought readings.
| SUPPORT | RESISTANCE |
| 1.2753/ .43 (daily envelope/ see above) | 1.2801 (daily ST MA↓) |
| 1.2725 (break-up daily Nov 06) | 1.2826 (daily envelope) |
| 1.2704/ .2681 (see above/ Nov 03 low) | 1.2840/ .2871 (yesterday high/ previous reaction high h l ) |
For in-depth insight on other currency pairs:
- USD/YEN: (118.00) Toying back with neckline of double top
- EUR/GBP: (.6791) Approaching .6794
- EUR/JPY : (151.28) In channel off 147.72
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