Chart EUR/USD Update: Cautious trade - studies rising
Little change, as prices extend cautious trade above support at 1.1200
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1340 | ** | 38.2% ret of Aug-Oct fall | S1 | 1.1200 | ** | break level | |
| R3 | 1.1325 | ** | 24 Jun (m) low | S2 | 1.1130 | ** | 50% ret of 2025-2026 rally | |
| R2 | 1.1300 | ** | congestion | S3 | 1.1100/15 | ** | figure; 14 Oct YTD low | |
| R1 | 1.1270/80 | ** | 16 Oct (w) high; break level | S4 | 1.1065 | ** | 12 May (m) low |
*Asterisk denotes strength of level
08:25 BST - Little change, as prices extend cautious trade above support at 1.1200. Daily readings are positive, highlighting room for a push higher towards resistance at the 1.1270 weekly high of 16 October and 1.1280 break level. But daily stochastics are already overbought and broader weekly charts are mixed/negative, suggesting any immediate tests could give way to fresh consolidation. A close above here, however, will improve sentiment and extend mid-October gains towards the 1.1325 - 1.1340 range, where fresh profit-taking/consolidation is expected to appear.
Meanwhile, a close below 1.1200, if seen, will turn sentiment neutral and give way to consolidation above critical support at the 1.1115 current year low of 14 October and the 1.1130 Fibonacci retracement.