It is classic how the London and New York traders do not take to each other very well and usually trading in opposition of each other. They are playing a typical cat and mouse game all the time.
Yesterday, NY made a move higher on the back of the weaker USD only after London had finished for the day.
Just as well, nothing significant on the upside were breached. On a more serious note, it could be the market's way of culling the weak shorts before true intent is shown. Just like a poker face before revealing a hand of royal flush.
The dailies remain poised for lower but the question is only how deep will it run barring any cataclysmic news but a lack of momentum and volatility is hindering forays below.
Interim supports are at 1193.60, 1190 & 1185.40 with minor supports at 1178.60, 1168.70 & 1161.50.
Interim resistance at 1202.80, 1211.60 & 1216.80 with minors at 1207.50, 1218.50 & 1221.70.
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