Published: 2025-03-14T01:33:16.000Z
Chart EUR/USD Update: Room for deeper corrective pullback
Technical Analyst
1
Settling back in range from test of the 1.0937/50 resistance as prices unwind the overbought intraday and daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1050 | * | congestion | S1 | 1.0850 | * | congestion | |
| R3 | 1.1000 | ** | Sep low | S2 | 1.0760 | * | Oct low | |
| R2 | 1.0937/50 | ** | Nov. Jul highs | S3 | 1.0700 | * | congestion | |
| R1 | 1.0900 | * | congestion | S4 | 1.0665 | * | Jun low |
Asterisk denotes strength of level
01:30 GMT - Settling back in range from test of the 1.0937/50 resistance as prices unwind the overbought intraday and daily studies. Below the Tuesday's range low at 1.0828 opens up room for deeper correction to the 1.0800 congestion and 1.0760 support. This is expected to underpin and sustain the strong rally from the 1.0360, 28 February low. Higher low sought to further pressure the upside later and clearing the 1.0937/50 resistance will see room for extension to strong resistance at the 1.1000 figure. Beyond this, will return focus to the 1.1200, August/September 2024 year highs.