Published: 2025-10-17T07:46:02.000Z
Chart EUR/USD Update: Daily studies improving
1
Cautious trade has given way to fresh tests higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1820 | * | 23 Sep (w) high | S1 | 1.1600 | ** | congestion | |
| R3 | 1.1800 | * | congestion | S2 | 1.1542 | 9 Oct (w) low | ||
| R2 | 1.1725~ | intraday high | S3 | 1.1500 | ** | congestion | ||
| R1 | 1.1700 | * | congestion | S4 | 1.1400 | ** | cong, Jul-Aug (m) lows |
*Asterisk denotes strength of level
08:35 BST - Cautious trade has given way to fresh tests higher, with prices reaching 1.1725~ before settling back into consolidation around congestion resistance at 1.1700. Intraday studies are mixed/negative, suggesting potential for a test lower. But rising daily stochastics and the improving daily Tension Indicator are expected to limit any losses in renewed buying interest above congestion support at 1.1600. In the coming sessions, fresh gains are looked for. A break back above 1.1700 will open up congestion resistance around 1.1800. But mixed weekly charts are expected to limit any initial tests in consolidation.