It’s time for Wednesday’s Support and Resistance Level Report. Here’s how our in-house model tests out today.
Euro/Dollar is trading in the range limited by R1 of 1 0910 and S1 of 1 0870.
R1 is a 6 month low with 5 confirmations, and R2 is a psychological level with 4 studies. A 20 day moving average is among the 2 models for R3. The highest support line has found 10 matches, and Bollinger Lower Band is among the 2 studies for S2. S3 counts a 12 month low as its only confirmation.
Pound/Dollar has the closest levels of 1 2170 in resistance and 1 2140 in support.
The lowest resistance line has found 5 matches. Standing at a psychological level, R3 sees 2 confirmations, and a 20 day moving average is the only model for R2. All three support lines have found exactly 2 matches each. S2 is a psychological level, and S3 is Price Channel Indicator Lower Line.
Dollar/Yen finds itself between R1 of 104 40 and S1 of 104 10.
R1 leads in resistance with 8 models. R2 is backed up by Price Channel Indicator Upper Line, a psychological level and 2 other studies, and Bollinger Upper Band is among the 2 matches for R3. S1 leads in support with 10 studies, and S2 is a 20 day moving average with 3 matches. S3 counts a 100 day moving average among its 2 models.
And Dollar/Swiss Franc stands below R1 of 0 9960 and above S1 of 0 9930.
R1 is the most confirmed resistance line with 8 studies. R2 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band, a psychological level and 4 other studies, and R3 has found 2 matches. The highest support line sees 11 confirmations, and S2 is a 20 day moving average with 3 models. S3 counts a 150 day moving average among its 2 matches.
I’m Celeste Skinner and this was the Support and Resistance Level Report for Wednesday. Stay with us throughout your trading day.
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