Resistance – 1.4514, 1.4549, 1.46
Support – 1.4474, 1.4428, 1.4374
Support – 1.4474, 1.4428, 1.4374
- Cable’s finally found support at the rising trend line drawn from April low and May low in the NY session.
- A minor dip below the same in Asia was quickly done and the pair is now attempting to take out 1.45 handle.
- The sharp drop also pushed the hourly RSI into oversold territory.
- Consequently, spot may take out 1.45 and test supply around 1.4549 (23.6% of 1.3835-1.4770).
- On the other hand, a failure to take out 1.45 followed by drop below Asian session low of 1.4460 would shift risk in favor of a drop to 1.44 levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.