Yesterday at this time I highlighted the strong resistance on cable at 1.6775-85 and support between 0.8100-10 going into construction PMI and warned that if we didn’t break then we should expect some retracement
Hey presto, and we’re now in the same position going into the more important services PMI but at the other end of the range, support on cable at 1.6700 then 1.6680-85 coinciding with resistance/offers between 0.8150-60
Expect both pairs to have impact on each other once again. Currently 1.6703 and 0.8147
PMI expectations 58.2 vs 58.7 prev
Ryan covering for Adam today so you’ll have to make do with just me again I’m afraid!
