Published: 2024-12-20T02:01:47.000Z
Chart EUR/USD Update: Extending consolidation above 1.0331 low
Technical Analyst
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Turned up just above the 1.0331 November YTD lo, as prices consolidate the breakdown from the 1.0448 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0534 | * | 17 Dec high | S1 | 1.0331 | ** | 22 Nov YTD low | |
| R3 | 1.0500 | * | congestion | S2 | 1.0300 | * | congestion | |
| R2 | 1.0448 | ** | Oct 2023 year low | S3 | 1.0223 | * | 21 Nov 2022 low | |
| R1 | 1.0425 | * | 26 Nov low | S4 | 1.0200 | ** | 61.8% 2022/2023 rally |
Asterisk denotes strength of level
02:00 GMT - Turned up just above the 1.0331 November YTD lo, as prices consolidate the breakdown from the 1.0448 support. Pause here see prices unwinding deep oversold intraday studies. However, the downside remains vulnerable and see risk for break later. Lower will further retrace the 2022/2023 rally and see room to the 1.0300 congestion. Meanwhile, resistance is lowered to the 1.0400/25 congestion and 26 Nov low ahead of the 1.0448, 2023 year low. The latter now expected to cap and sustain the bearish pressure.