Published: 2025-01-23T01:47:08.000Z
Chart EUR/USD Update: Consolidating test of 1.0448 resistance
Technical Analyst
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Still limited above the 1.0400 level as prices settled back in consolidation from test of the 1.0448 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0570 | * | 38.2% Sep/Jan fall | S1 | 1.0400 | * | congestion | |
| R3 | 1.0550 | * | congestion | S2 | 1.0350 | * | congestion | |
| R2 | 1.0500 | * | congestion | S3 | 1.0300 | * | congestion | |
| R1 | 1.0448 | ** | 2023 year low | S4 | 1.0250 | * | 13 Jan high |
Asterisk denotes strength of level
01:40 GMT - Still limited above the 1.0400 level as prices settled back in consolidation from test of the 1.0448 resistance. Daily studies are stretched and suggest further gains on hold for now as prices unwind overbought readings. A later clearance will open up stronger gains from the 1.0177 low to retrace losses from the August/September double top. Higher will see extension to the 1.0500/50 area then 1.0600, 38.2% Fibonacci level. Meanwhile, support is raised to the 1.0400/1.0350 congestion area which should underpin and sustain gains from the 1.0177 low.