Chart EUR/USD Update: Choppy within a 5-week range area
Sharp bounce from support at the 1.1150/30 area to regain the 1.1200 level see prices extending choppy trades within a 5-week range area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1410 | ** | Mar low | S1 | 1.1200 | * | congestion | |
| R3 | 1.1350 | * | congestion | S2 | 1.1150/30 | * | congestion, 6 Nov low | |
| R2 | 1.1325 | ** | Jun low | S3 | 1.1105 | ** | 29 Oct YTD low | |
| R1 | 1.1275 | ** | 2023 year low | S4 | 1.1065 | * | May 2025 low |
Asterisk denotes strength of level
01:25 GMT - Sharp bounce from support at the 1.1150/30 area to regain the 1.1200 level see prices extending choppy trades within a 5-week range area. Higher will see scope for extension to retest the 1.1275 resistance where clearance will confirm a bottom pattern at the 1.1105 October current year low and see room for stronger recovery to retrace sharp losses from the 1.1710 August high. Break will turn focus to strong resistance at the 1.1325/50 June/July lows then the 1.1410, March low. Meanwhile, support is raised to 1.1200 level which should sustain bounce from the 1.1150/30 area.