Published: 2025-01-13T01:56:15.000Z
Chart EUR/USD Update: Room for lower
Technical Analyst
2
Prices remain under pressure to reach fresh low at 1.0211 on Friday
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0448 | ** | 2023 year low | S1 | 1.0211 | * | 10 Jan low | |
| R3 | 1.0400 | * | congestion | S2 | 1.0200 | ** | 61.8% 2022/2023 rally | |
| R2 | 1.0331/50 | * | Nov low, congestion | S3 | 1.0100 | * | congestion | |
| R1 | 1.0300 | * | congestion | S4 | 1.0000 | ** | parity |
Asterisk denotes strength of level
01:50 GMT - Prices remain under pressure to reach fresh low at 1.0211 on Friday. Nearby see room to extend losses to the 1.0200, 61.8% Fibonacci retracement level. The daily and weekly studies remains deep in oversold area and suggest scope for reaction at the latter. Failure here will see room to further extend losses from the 2023 high to the 1.0100 level. Meanwhile, resistance is lowered to the 1.0300 congestion and this extend to the 1.0331/1.0350 area which is expected to cap. Would take break here to open up room for stronger bounce to retrace losses from the September high to the 1.0400/1.0448 area.