Published: 2024-09-26T07:48:18.000Z
Chart EUR/USD Update: Balanced beneath fresh 2024 year high - studies buoyant
Senior Technical Strategist
2
The anticipated test above 1.1200 posted a fresh 2024 year high at 1.1215
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.1300 | * | congestion | S1 | 1.1100 | * | congestion | |
R3 | 1.1275 | ** | 61.8% ret of 2021-2022 fall, Jul 2023 (y) high | S2 | 1.1050 | congestion | ||
R2 | 1.1200/15 | ** | break level, 25 Sep YTD high | S3 | 1.1000 | ** | congestion | |
R1 | 1.1150 | intraday break level | S4 | 1.0950 | * | break level |
Asterisk denotes strength of level
08:35 BST - The anticipated test above 1.1200 posted a fresh 2024 year high at 1.1215, before falling sharply to trade beneath 1.1150. Daily readings are under pressure, highlighting room for further losses towards congestion support at 1.1100. But mixed weekly charts should limit any immediate break in renewed consolidation above congestion around 1.1050. Meanwhile, a close above 1.1200/15, not yet seen, will turn sentiment positive and confirm continuation of October 2023 gains towards critical multi-month resistance at the 1.1275 Fibonacci retracement and year high of July 2023.