Today’s support and resistance levels:
Current spot: 1.5920
Quite unpredictable moves are still going on. The rally from the 1.5644 low has been very strong, but we think that a top is close at hand and a correction towards at least 1.5849 and possibly even lower to 1.5805 soon will be seen. Once this correction is over, we should see a new powerful rally higher towards 1.6273 as the next strong resistance level that needs to be conquered to confirm the rally towards 1.6446 and higher towards 1.6800.
We will be looking for a buying opportunity next to 1.5805.
The material has been provided by InstaForex Company – www.instaforex.com