It looks more likely that it would rise to 1.1602 - 1.1644 from 1.1548 or 1.1527. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    elongated flat correction up

Key Points

  • Key Point1.1569
  • Entry Point1.1565
  • Trendline 11.1560
  • Trendline 21.1569
  • Elliott1.1432
  • Closing1.1560
  • Ex-Low1.1535
  • Ex-High1.1610
  • Projection1.1614

Supports and Resistance levels

  • Support 11.1527
  • Support 21.1493
  • Resistance 11.1602
  • Resistance 21.1644
  • Pivot1.1569

It may attempt a test higher to 1.1585 - 1.1636 after which weakness may set it to a drift down to below 1.1458 limit.

Technical Forecast

  • Elliott Wave

    common flat resistance in downtrend

Key Points

  • Key Point1.1535
  • Entry Point1.1538
  • Trendline 11.1518
  • Trendline 21.1597
  • Elliott1.1815
  • Closing1.1560
  • Ex-Low1.1432
  • Ex-High1.1610
  • Projection1.1348

Supports and Resistance levels

  • Support 11.1458
  • Support 21.1356
  • Resistance 11.1636
  • Resistance 21.1712
  • Pivot1.1534

While below 1.1648 it might drop to 1.1482 or below 1.1360 zone.

Technical Forecast

  • Elliott Wave

Key Points

  • Key Point1.1646
  • Entry Point1.1643
  • Trendline 11.1526
  • Trendline 21.1752
  • Elliott1.1301
  • Closing1.1603
  • Ex-Low1.1526
  • Ex-High1.1815
  • Projection9.2351

Supports and Resistance levels

  • Support 11.1482
  • Support 21.1360
  • Resistance 11.1770
  • Resistance 21.1937
  • Pivot1.1648