Chart EUR/USD Update: Under pressure
Consolidating test of the 1.1575 support but pressure remains on the downside and see scope for break here to extend losses from the 1.1710 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1740/65 | ** | 19, 6 Feb lows | S1 | 1.1575 | ** | May low | |
| R3 | 1.1700/10 | ** | congestion | S2 | 1.1550 | * | congestion | |
| R2 | 1.1655 | * | congestion, 30 Apr low | S3 | 1.1500 | * | congestion | |
| R1 | 1.1600 | congestion | S4 | 1.1482 | ** | 15 Jul high |
Asterisk denotes strength of level
01:35 GMT - Consolidating test of the 1.1575 support but pressure remains on the downside and see scope for break here to extend losses from the 1.1710 high. Negative daily and weekly studies weighs and break here will see deeper pullback to correct recent strong gains from 1.1355 late-July low. Lower will see room to the 1.1550 congestion and possibly to strong support at 1.1500/1.1482 area. Meanwhile, resistance remains at the 1.1600/1.1655 congestion area. Regaining this will ease the downside pressure and clear the way for retest of the 1.1700/10 congestion and August high.