Published: 2024-11-05T01:16:39.000Z
Chart EUR/USD Update: Consolidating test of 1.0900/15 resistance
Technical Analyst
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Stalled on retest of the 1.0900/15 resistance as prices consolidate choppy gains from the 1.0761, October low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0985 | * | 50% Sep/Oct fall | S1 | 1.0840 | * | 25 Oct high | |
| R3 | 1.0950 | * | Jul high | S2 | 1.0800 | * | congestion | |
| R2 | 1.0935 | * | 38.2% Sep/Oct fall | S3 | 1.0761 | ** | 23 Oct low | |
| R1 | 1.0900/15 | * | congestion, Jun high | S4 | 1.0700 | * | congestion |
Asterisk denotes strength of level
01:15 GMT - Stalled on retest of the 1.0900/15 resistance as prices consolidate choppy gains from the 1.0761, October low. The positive daily studies suggest scope for further gains later and clear break higher will see room to the 1.0935/50, 38.2% Fibonacci retracement and congestion area. Beyond this will open up scope to the 1.0985, 50% Fibonacci level, and the strong resistance at the 1.1000, September low. Meanwhile, support remains at the 1.0840 high of 25 October which should now underpin and sustain gains from the 1.0761 low.