Published: 2026-01-20T01:38:50.000Z
Chart EUR/USD Update: Room to extend bounce
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Bounce from the 1.1576 low has seen prices reaching resistance at 1.1650
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1800/30 | ** | congestion, Jul high | S1 | 1.1576 | * | 19 Jan low | |
| 14 | 1.1750 | * | congestion | S2 | 1.1550 | * | congestion | |
| R2 | 1.1700 | ** | congestion | S3 | 1.1500 | * | figure | |
| R1 | 1.1650 | * | congestion | S4 | 1.1470 | ** | Nov low |
Asterisk denotes strength of level
01:30 GMT - Bounce from the 1.1576 low has seen prices reaching resistance at 1.1650. The resulting bullish outside bar suggest scope for break here to open up room for stronger gains to retrace losses from the 1.1800 December high. Daily studies have turned positive to unwind oversold readings and suggest room for stronger gains to strong resistance at the 1.1700 congestion which is expected to cap. Meanwhile, support is raised to the 1.1600 level ahead of the 1.1576 low. Would take break of these to open up room for extension to support at 1.1550 congestion.