Published: 2026-01-07T08:41:30.000Z
Chart EUR/USD Update: Leaning lower
3
Cautious trade has given way to a drift lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1815 | ** | 76.4% ret of Sep-Nov fall | S1 | 1.1680 | * | 38.2% ret of Nov-Dec rally | |
| R3 | 1.1800 | * | congestion | S2 | 1.1650 | * | congestion | |
| R2 | 1.1750 | * | congestion | S3 | 1.1640 | ** | 50% ret of Nov-Dec rally | |
| R1 | 1.1700 | * | congestion | S4 | 1.1600 | ** | congestion, 61.8% ret |
*Asterisk denotes strength of level
08:25 GMT - Cautious trade has given way to a drift lower, with prices currently pressuring support at the 1.1680 Fibonacci retracement. Intraday studies have turned down and daily readings are under pressure, highlighting room for a break down to congestion support at 1.1650 and the 1.1640 retracement. Further losses cannot be ruled out. But flat oversold daily stochastics and mixed weekly readings are expected to limit scope in consolidation above stronger support at 1.1600. Meanwhile, a close back above congestion resistance at 1.1700 would help to stabilise price action and prompt consolidation beneath further congestion around 1.1750.