Published: 2024-12-05T01:27:56.000Z
Chart EUR/USD Update: Still vulnerable while 1.0600/10 resistance caps
Technical Analyst
4
Little change, as prices extend consolidation around the 1.0500 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0761/75 | * | Oct low, 50% | S1 | 1.0448 | * | 2023 year low | |
| R3 | 1.0700 | * | Feb low | S2 | 1.0425/00 | * | 26 Nov low, figure | |
| R2 | 1.0665/70 | * | Jun low, 38.2% | S3 | 1.0331 | ** | 22 Nov YTD low | |
| R1 | 1.0600/10 | ** | Apr low, congestion | S4 | 1.0300 | * | congestion |
Asterisk denotes strength of level
01:15 GMT - Little change, as prices extend consolidation around the 1.0500 level following pullback from the 1.0600/10 resistance. Daily studies remain mixed and risk remains for pullback to support at the 1.0448, the 2023 year low, then the 1.0425/00 congestion area. Break of the latter will open up the 1.0331 low to retest. Meanwhile, resistance at the 1.0600/10 congestion area seen capping and break here is needed to confirm a bottom pattern at the November low and see room for stronger recovery to retrace losses from the August/September double top. Break will see room to 1.0665/1.0700 area.