Published at 17:35 (GMT) 20 Aug

EURUSD

17:35 GMT - EUR/USD now looks to be setting up for a pullback soon closer to the 1.2350/70 zone. We can not make the bet that a powerful selloff from that zone can occur in the hours ahead, but at the very least a 15 to 20 pip downdraft should be seen. It is 'slim pickings' in the mkt today. Just taking what the mkt will give. A selloff is only meaningful if 1.2280 falls. R.Z

R5: 1.2443 * 06 Aug high
R4: 1.2402 08 Aug high
R3: 1.2400 figure
R2: 1.2376 * 50-day MA
R1: 1.2370 hourly high
S1: 1.2306 intraday level
S2: 1.2300 figure
S3: 1.2280 * lower TL
S4: 1.2239 * 10 Aug low
S5: 1.2220/10 intraday level