Support - 1.1196, 1.1144, 1.11
Resistance - 1.1236, 1.1301, 1.1342
Had noted yesterday after Fed in a post that failure to close above 1.1296 could result in a drop to 1.1236
Resistance - 1.1236, 1.1301, 1.1342
- Euro's rejection at confluence of technical resistance at 1.1301 followed by a break below 1.1236 (38.2% of 1.0463-1.1714) if results in a 4-hour/day end closing below 1.1196 (38.2% of 1.0517-1.1616) would signal a drop to daily 200-MA level of 1.11.
- Moreover, close below 1.1196 would also mark a close below rising trend line support.
- On the other hand, bearish invalidation is seen only if prices see a day end closing above 1.1301.
Had noted yesterday after Fed in a post that failure to close above 1.1296 could result in a drop to 1.1236
