Cable presently at 1.5985 is a fair ways away from the 1.6039 session high posted earlier. But that’s been the nature of the beast during this protracted rally. Spurts higher followed by consolidative retracements lower, which at times have been pretty fightening.
Technical supports lie at 1.5950 and 1.5925, resistances up at 1.5995/05, 1.6020 and 1.6045/50.
Unconfirmed talk of barrier option interest up at 1.6050, but not that it really matters a great deal. The idea of highlighting these option interests is one would expect some sort of durable defence of said levels. But to be honest that’s not been the case during the recent cable rally. Barrier option interests noted at 1.6000 and then 1.6025 this morning gave out without much of a fight at all.
Buy stops seen gathered up at 1.6050/55 and more at 1.6080.
