Chart EUR/USD Update: Extend consolidation above 1.1450
Little change, as prices drift narrowly in range above the 1.1450 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1655 | ** | 30 Apr low | S1 | 1.1450 | * | congestion | |
| R3 | 1.1600 | * | congestion | S2 | 1.1410/00 | ** | Mar low, congestion | |
| R2 | 1.1575/50 | ** | May low, congestion | S3 | 1.1350 | * | congestion | |
| R1 | 1.1500 | * | congestion | S4 | 1.1325 | ** | 24 Jun YTD low |
Asterisk denotes strength of level
01:35 GMT - Little change, as prices drift narrowly in range above the 1.1450 congestion. Daily studies are oversold and suggest scope for bounce to retrace recent sharp losses from the 1.1655, 9 September high. Would need lift over the 1.1500 to open up room to strong resistance at the 1.1550/75 area which is expected to cap. Meanwhile, support remains at the 1.1450 congestion but bearish structure from the 1.1710 August high suggest correction expected to give way to renewed selling pressure later. Lower will open up room for retest of the 1.1410 March low. Below here will see potential back to the July/June lows at 1.1350/1.1325.