Chart EUR/USD Update: Settled back from 1.1575/1.1600 resistance
No follow-through on break above resistance at the 1.1575/1.1600 area as prices settled back in consolidation from the 1.1614 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1750 | * | congestion | S1 | 1.1550 | * | congestion | |
| R3 | 1.1685 | * | 29 May high | S2 | 1.1500 | * | congestion | |
| R2 | 1.1655 | ** | 30 Apr low | S3 | 1.1482 | ** | 15 Jul high | |
| R1 | 1.1600 | * | congestion | S4 | 1.1450 | * | congestion |
Asterisk denotes strength of level
01:15 GMT - No follow-through on break above resistance at the 1.1575/1.1600 area as prices settled back in consolidation from the 1.1614 high. Intraday studies are unwinding overbought readings as daily studies turned mixed and caution corrective pullback to support at 1.1550 congestion. Below here will open up room for deeper pullback to strong support at the 1.1500/1.1482 area which should underpin and sustain gains from the 1.1355/25, July and June current year lows. Meanwhie, break above 1.1575/1.1600 resistance will see room to strong resistance at the 1.1655/1.1685 area and the 1.1700 level.