Thursday, January 7, 2016

SUPPORT & RESISTANCE FOR EUR/USD

R5 - 1.1010 16 Dec high
R4 - 1.0993 * 28 Dec high
R3 - 1.0946 * 4 Jan high
R2 - 1.0900 figure
R1 - 1.0853 31 Dec low

S1 - 1.0773 intraday level
S2 - 1.0711 * 5 Jan low
S3 - 1.0689 25 Nov high
S4 - 1.0638 27 Nov high
S5 - 1.0600 figure

Recovery from the 1.0711/16 lows to regain the 1.0800 level fades downside pressure and triggers stronger push towards the 1.0853 resistance. Beyond this will see scope to retest the 1.0900 level and 1.0946 high. Support now at 1.0773 then the 1.0711 low.