Published: 2025-12-03T08:54:40.000Z
Chart EUR/USD Update: Studies rising
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Choppy trade above congestion support at 1.1600 is giving way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1780~ | ** | 1 Oct (m) high | S1 | 1.1600 | * | congestion | |
| R3 | 1.1728 | ** | 17 Oct (w) high | S2 | 1.1550 | * | break level | |
| R2 | 1.1700 | * | congestion | S3 | 1.1500 | ** | congestion | |
| R1 | 1.1650 | * | congestion | S4 | 1.1470~ | ** | 5 Nov (w) low |
*Asterisk denotes strength of level
08:35 GMT - Choppy trade above congestion support at 1.1600 is giving way to a bounce, as intraday studies turn higher, with prices currently consolidating the test of congestion resistance at 1.1650. Rising daily readings highlight room for a break above here and extension of November gains towards further congestion around 1.1700. But already overbought daily stochastics and mixed weekly charts are expected to limit any initial tests in renewed consolidation. Meanwhile, a close below 1.1600, if seen, will turn sentiment neutral and put prices back into consolidation above support at the 1.1550 break level.