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Looking at potential resistance around $X 54.89
Been watching $X today. We saw that rejection off 54.89 earlier, which has been a fairly consistent ceiling for this pair on intraday charts recently. If it's a true resistance, I'd expect some hesitation there again, perhaps a slight pullback. A clear break and hold above 54.90 would invalidate that short-term resistance scenario for me, and I'd reassess towards higher levels.
1 comments · 6 points
Ah, the old "will it break or won't it" dance at a familiar ceiling. It's almost as if the market enjoys keeping us on the edge of our seats with these round numbers.