It’s the day after the ECB meeting, so let’s see where the Support and Resistance levels stand this morning.
Euro/Dollar has taken a hit as the ECB decision was more cautious than anticipated, and it has R1 of 1 1670 and S1 of 1 1630.
Standing at a 20 day moving average, R2 sees 7 confirmations. R3 is a 50 day moving average with 6 studies, and R1 counts a 100 day moving average among its 2 models. Price Channel Indicator Lower Line is among the 3 studies for S1, and S2 is a psychological level with 2 technicals. A 150 day moving average is the only match for S3.
The Cable is down as well, now trading in the range limited by R1 of 1 3180 and S1 of 1 3120. R1 is a 50 day moving average with 10 studies, and R2 counts a 20 day moving average among its 8 models. Bollinger Upper Band is the only match for R3. S1 leads in support with 4 models, and S2 is backed up by a 100 day moving average, Bollinger Lower Band and another study. S3 counts a 150 day moving average as its only match.
Dollar/Yen has inched higher, and it stands between R1 of 114 20 and S1 of 113 80. Price Channel Indicator Upper Line is among the 5 studies for R1, and R2 is a 6 month high with 4 models. R3 counts a psychological level as its only match.
The highest support line sees 11 confirmations, and S2 counts a 20 day moving average among its 7 studies. S3 is backed up by Price Channel Indicator Lower Line, Bollinger Lower Band and 2 other models.
And Dollar/Swiss Franc is now just a touch below parity, trading below R1 of 1 and above S1 of 0 9950.
Standing at a 6 month high, R3 has found 3 confirmations.The second line has found 2 matches, and a psychological level is the only model for R1. S2 counts a 20 day moving average among its 6 studies, and S3 is a 150 day moving average with 4 confirmations. The highest support line has found a single match.
This article was originally posted on FX Empire
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