Published: 2024-10-15T07:34:10.000Z
Chart EUR/USD Update: Poised to extend September losses
Senior Technical Strategist
2
Still little change, as prices extend cautious trade around support at 1.0900
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.1100 | * | congestion | S1 | 1.0900 | ** | break level | |
R3 | 1.1050 | congestion | S2 | 1.0880~ | ** | 8 Aug (w) low | ||
R2 | 1.1000 | ** | congestion | S3 | 1.0835 | ** | 61.8% ret of Aug-Sep rally | |
R1 | 1.0950 | break level | S4 | 1.0800 | * | congestion |
Asterisk denotes strength of level
08:30 BST - Still little change, as prices extend cautious trade around support at 1.0900. Intraday studies have turned lower and daily readings are mixed/negative, highlighting room for further losses in the coming sessions. A close below 1.0900 will confirm continuation of September losses and open up a test of support at the 1.0835 Fibonacci retracement. However, already oversold daily stochastics could prompt fresh consolidation around here. Meanwhile, resistance remains at 1.0950. A close above here, if seen, would turn sentiment neutral and prompt consolidation beneath congestion resistance at 1.1000.