Current level at 09:52 CET is 105.10, trading well under the daily pivot point level of 105.50 and now close to second support at 105.00. The phase of upside retracement which has been in force since the middle of March now seems to be stalling. Daily Bollinger bands have remained flat over the past week while the upper band at 105.62 has sealed off attacks to the upside. Levels to monitor now are the Fibonacci 38.2 percent retracement level at 106.80 and the 23.6 retracement level at 102.60 ahead of the Daily Ichimoku cloud top at 102.37. Pivot point related resistance levels for today are set at 105.75 and then 105.99.
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