Published: 2025-01-22T01:30:30.000Z
Chart EUR/USD Update: Poised for break of 1.0436/48 resistance
Technical Analyst
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Extending consolidation below the 1.0436 resistance but pressure remains on the upside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0550 | * | congestion | S1 | 1.0350 | * | congestion | |
| R3 | 1.0500 | * | congestion | S2 | 1.0300 | * | congestion | |
| R2 | 1.0448 | ** | 2023 year low | S3 | 1.0250 | * | 13 Jan high | |
| R1 | 1.0436 | * | 6 Jan high | S4 | 1.0177 | ** | 13 Jan YTD low |
Asterisk denotes strength of level
01:25 GMT - Extending consolidation below the 1.0436 resistance but pressure remains on the upside and see scope for break to extend gains from the 1.0177 low. Both the daily and weekly studies are tracking higher from oversold areas and see potential for break of the 1.0436/48 resistance to further retrace losses from the August/September double top. Higher will open up room to the 1.0500/50 area then 1.0600, 38.2% Fibonacci level. Meanwhile, support is raised to the 1.0350 and this should underpin and sustain gains from the 1.0177 low.