- Currently the cable is trading around 1.5295 levels, it is set to decline further towards 1.5250 later towards 1.5200 levels in the short term.
- To the upside, the strong resistance can be seen at 1.5351 (23.6% Retracement level), a break above this level would expose to cable to next resistance level at 1.5438 levels.
- To the downside immediate support can be seen at 1.5261 (50% Retracement level), a break below at this level will open the door towards next level at 1.5218.
Recommendation: Go short below 1.5300, targets 1.5250, 1.5220, SL 1.5400
Resistance Levels
R1: 1.5301 (38.2% Retracement level)
R2: 1.5351 (23.6% Retracement level)
R3: 1.5438 (Aug 31st high)
Support Levels
S1: 1.5261 (50% Retracement level)
S2: 1.5218 (61.8% Retracement level)
S3: 1.5188 (June 5th high)