Indicators signal failing trend with ADX (DMI) falling to 20.02. Stochastic is neutral on the daily chart at 58.21 with the dealer (4HR) chart Stochastic is oversold at 19.52. RSI is neutral at 41.50 on the daily chart and is also neutral at 39.25 on the 4-hour chart. MACD is sloping upward toward the zero line on the daily chart and is pointing downward below the zero line on the (4HR) chart. In case the cable longs fail to make a further advance, dollar traders should expect the cable to tumble below the 1.8000 figure.
Key levels
Level | Resistance | Details |
| 1.8403 | Major | June 8 daily high |
| 1.8311 | Intermediate | June 17 daily high |
| 1.8232 | Minor | 5-day SMA |
| Level | Support | Details |
| 1.8074 | Minor | June 1 daily low |
| 1.8002 | Intermediate | 2005 Low |
| 1.7925 | Major | Oct 19 daily spike low |
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.
