Published: 2025-10-07T07:43:49.000Z
Chart EUR/USD Update: Choppy trade - daily studies under pressure
1
The test above congestion resistance at 1.1700 has not been sustained
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1918 | ** | 17 Sep YTD high | S1 | 1.1650 | * | congestion | |
| R3 | 1.1900 | ** | historic congestion | S2 | 1.1600 | ** | congestion | |
| R2 | 1.1800 | * | congestion | S3 | 1.1500 | ** | congestion | |
| R1 | 1.1700 | * | congestion | S4 | 1.1400 | ** | congestion |
*Asterisk denotes strength of level
08:35 BST - The test above congestion resistance at 1.1700 has not been sustained, as intraday studies turn down once again, with prices currently trading around 1.1675. Daily readings are under pressure and broader weekly charts are also turning down, highlighting room for fresh losses in the coming sessions. A break below congestion support at 1.1650 will add weight to sentiment and open up congestion around 1.1600, where oversold daily stochastics could prompt fresh consolidation. Meanwhile, a close back above 1.1700 would help to stabilise price action and prompt consolidation beneath 1.1800.