Published: 2024-10-10T01:20:09.000Z
Chart EUR/USD Update: Extending losses
Technical Analyst
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Consolidation above the 1.0950 support has given way to break lower to extend losses from the 1.1200/14, September high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.1120/40 | ** | congestion, Dec high | S1 | 1.0915 | ** | Jun high | |
R3 | 1.1100 | * | congestion | S2 | 1.0905/00 | * | 50%, congestion | |
R2 | 1.1050 | * | congestion | S3 | 1.0881 | * | 8 Aug low | |
R1 | 1.1000 | ** | Sep low | S4 | 1.0850 | * | congestion |
Asterisk denotes strength of level
01:10 GMT - Consolidation above the 1.0950 support has given way to break lower to extend losses from the 1.1200/14, September high. Lower will see room to the strong support at 1.0915, June high, where reaction can be expected to unwind deep oversold intraday and daily studies. Failure to hold this will see room to the 1.0905/00, 50% Fibonacci retracement and congestion area. Meanwhile, resistance is at the 1.1000 low of September which is expected to cap. Close above here will fade the downside pressure and return focus to the upside for retest of the 1.1050/1.1000 area.