Let’s see where the Support and Resistance levels stand this Tuesday morning.
Euro/Dollar has regained some ground and now finds itself between R1 of 1 13 and S1 of 1 1270.
Standing near a 50 day moving average, R1 sees 6 confirmations. R2 is backed up by Bollinger Upper Band, Price Channel Indicator Upper Line and 3 other models, and R3 is a psychological level with 2 matches. The highest support line sees 5 confirmations, and S3 counts Price Channel Indicator Lower Line among its 4 models. A 20 day moving average is among the 3 matches for S2.
Next up is the Cable, which has the closest levels of 1 42 in resistance and 1 4160 in support.
R2 leads in support with 9 studies, and R3 is backed up by a 150 day moving average, a psychological level and 4 other models. The lowest line has found a single match. S1 leads in support with 4 models, and S2 is Price Channel Indicator Lower Line with 3 confirmations. A psychological level is among the 2 studies for S3.
Dollar/Yen has seen limited movement so far this week, and it has R1 of 106 20 and S1 of 105 80.
R2 is the most confirmed resistance line with 8 models. A 50 day moving average is among the 7 studies for R3, and the lowest line has found 3 matches. S1 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line and 3 other studies. As to the other two support lines, they have found a single match each, including a psychological level for S2.
And last up is the Dollar/Swiss Franc, which stands below R1 of 0 9650 and above S1 of 0 9620.
The lowest resistance line has found 13 matches, and R2 is a 50 day moving average with 4 studies. Standing at a 100 day moving average, R3 sees 2 confirmations. S2 is confirmed by Price Channel Indicator Lower Line, Bollinger Lower Band and 4 other models. The highest support line has found 3 matches, and S3 counts a psychological level as its only confirmation.
And that’s how our in-house model tests out today. I’m Celeste Skinner and we’ll be covering the currency markets throughout the day, so stay with Dukascopy TV.
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