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(Z0) Recent Rally Outlines Upside Pressure

  • RES 3: 99.212 - 3.0% Upper Bollinger Band
  • RES 2: 99.185 - High Aug 5
  • RES 1: 99.180 - High Sep 23
  • PRICE: 99.120 @ 16:41 BST Sep 30
  • SUP 1: 98.970 - Low Sep 8 and the key near-term support
  • SUP 2: 98.935 - Low Sep 1
  • SUP 3: 98.810 - Low Jun 8

A sharp rally on Wednesday last week resulted in prices surging to touch 99.180 before fading. While the rally faded rapidly, this underlines the underlying bullish pressure, which keeps the technical outlook tilted higher. 99.185 and 99.212 are the initial upside targets. Key near-term support is at 98.970, Sep 8 low.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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