Focus is turning to the USD1216.80 low of 15 February, with the USD1210, (38.2%) just beneath here. A break to congestion around USD1200 is looked for, as overbought momentum studies unwind, with risk of a test of the USD1193, (50%) retracement before the rising Tension Indicator (not shown) helps to stabilise prices.
A close above USD1263.80 is needed to reinstate the , and open up the USD1278. 40 . However, immediate gains are expected to fade beneath here, as short-term profit-taking develops.