Published: 2025-01-21T01:53:08.000Z
Chart EUR/USD Update: Consolidating retest of 1.0436, higher later
Technical Analyst
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Break above the 1.0350 resistance has seen extension to retest the 1.0436 high of 6 January
| 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
01:40 GMT - Break above the 1.0350 resistance has seen extension to retest the 1.0436 high of 6 January. Consolidation here see prices unwinding overbought intraday studies but potential remains for further gains later to retest the 1.0436/48 resistance. Daily and weekly studies are tracking higher from oversold areas and suggest scope for break higher to retrace losses from the August/September double top. Higher will open up room to the 1.0500/50 area. Meanwhile, support is raised to the 1.0350 and this should underpin and sustain gains from the 1.0177 low.