Published: 2025-02-18T01:46:01.000Z
Chart EUR/USD Update: Consolidating test of 1.0500/33 resistance
Technical Analyst
1
No follow-through on break above the 1.0500 level as prices consolidate gains from the 1.0300 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0600 | * | congestion | S1 | 1.0448 | * | congestion, 2023 year low | |
| R3 | 1.0570 | * | 38.2% Sep/Jan fall | S2 | 1.0400 | * | congestion | |
| R2 | 1.0533 | ** | 27 Jan YTD high | S3 | 1.0350 | * | congestion | |
| R1 | 1.0500 | * | congestion | S4 | 1.0300/82 | ** | congestion, 10 Feb low |
Asterisk denotes strength of level
01:40 GMT - No follow-through on break above the 1.0500 level as prices consolidate gains from the 1.0300 level. Intraday studies are unwinding overbought readings and see room for pullback from the 1.0500/33 resistance. Nearby see support starting at the 2023 year high at 1.0448 which extend to the 1.0400 congestion which should underpin. Failure here will open up room for deeper pullback to the 1.0350 support though losses seen corrective and expected to give way to fresh buying interest later. Above the 1.0500/33 resistance will see room to the 1.0570, 38.2% Fibonacci retracement.