The recovery from ahead of the $1180.2-1182.4 region resulted in the first pop above the 55-DMA ($1249.4) Tuesday since mid-August although the lack of follow through and failure ahead of the key $1258.5 resistance are issues for bulls. Bulls need a close above $1258.5 to confirm a break of the 55-DMA and target $1274.4-1298.2. Thursday’s sell-off sees the pair pressuring the 21-DMA with bears favouring a break lower
RES 4: $1268.5 – Falling daily trend line
RES 3: $1258.5 – High Sept 9
RES 2: $1255.5 – Weekly Bollinger band top
RES 1: $1239.8 – Alternating hourly support/resistance
LPRICE: $1230.0
SUP 1: $1225.1 – 21-DMA
SUP 2: $1202.9 – Low Oct 7
SUP 3: $1182.4 – Monthly Low Dec 31 2013
SUP 4: $1180.2 – 2013 Low June 28 2013