Published: 2024-08-13T01:55:56.000Z
Chart EUR/USD Update: Extending consolidation within 1.0900/50 area
Technical Analyst
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Little change, as prices extend consolidation above the 1.0900 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1100 | * | congestion | S1 | 1.0900 | * | congestion | |
| R3 | 1.1045 | ** | 2 Jan YTD high | S2 | 1.0850 | * | congestion | |
| R2 | 1.1000 | * | congestion | S3 | 1.0800 | * | figure, congestion | |
| R1 | 1.0950 | * | congestion | S4 | 1.0777/75 | ** | 1 Aug low, 61.8% |
Asterisk denotes strength of level
01:50 GMT - Little change, as prices extend consolidation above the 1.0900 level though positive intraday studies suggest scope for retest of the 1.0950 congestion. Would take break here to clear the way for retest of the 1.1000/09 congestion and high of last week. Clearance will see potential to retest the 1.1045, 2 January YTD high. Meanwhile, support at the 1.0900/1.0881 congestion and low of last week now protecting the downside. Would take break here to open up deeper pullback to retrace rally from support at the 1.0777/75, low and 61.8% Fibonacci level.