Wednesday Support and Resistance Levels – May 10, 2017

Good morning traders, let’s see where the Support and Resistance levels stand this Wednesday morning.
We start with the most popular currency pair, the Euro/Dollar, which has R1 of 1 09 and S1 of 1 0860.
R1 is the most confirmed resistance line with 12 studies. R2 is backed up by Price Channel Indicator Upper Line, a psychological level and 2 other models, and R3 counts Bollinger Upper Band among its 2 matches. The highest support line sees 4 confirmations. S3 has found 3 matches, including Price Channel Indicator Lower Line and Bollinger Lower Band, and a 50 day moving average is the only model for S2.

The Cable has mostly been trading in the range limited by R1 of 1 2970 and S1 of 1 2930.
Standing near a 6 month high, R1 sees 10 confirmations. R2 counts Price Channel Indicator Upper Line and a psychological level among its 4 studies, and Bollinger Upper Band is among the 2 matches for R3. The highest support line sees 16 confirmations, and S2 is a 20 day moving average with 2 models. A 50 day moving average is the one match for S3.
Dollar/Yen has lost some ground and now stands between R1 of 114 20 and S1 of 113 70.
R1 is backed up by Price Channel Indicator Upper Line, Bollinger Upper Band and 3 other models, whereas the other two resistance lines see 2 confirmations each, including a psychological level for R2. Standing at a 100 day moving average, S2 has found 6 matches. The lowest support line sees 3 confirmations, and S1 is backed up by 2 technicals.
And Dollar/Swiss Franc has the closest levels of 1 0070 in resistance and 1 0040 in support.
Standing at a 4 year high, R3 sees 4 confirmations, while the other two resistance lines have found 3 matches each, including Bollinger Upper Band for R1 and Price Channel Indicator Upper Line for R2. Standing near a 20 day moving average, S2 sees 5 confirmations. S3 is supported by Price Channel Indicator Lower Line, Bollinger Lower Band and 2 other models, and S1 couts a 150 day moving average among its 3 studies.