Published: 2025-10-06T07:53:53.000Z
Chart EUR/USD Update: Leaning lower
5
Cautious trade around 1.1700 is giving way to a break lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1918 | ** | 17 Sep YTD high | S1 | 1.1650 | * | congestion | |
| R3 | 1.1900 | ** | historic congestion | S2 | 1.1600 | ** | congestion | |
| R2 | 1.1800 | * | congestion | S3 | 1.1500 | ** | congestion | |
| R1 | 1.1700 | * | congestion | S4 | 1.1400 | ** | congestion |
*Asterisk denotes strength of level
08:40 BST - Cautious trade around 1.1700 is giving way to a break lower, as intraday studies turn down, with selling interest currently focused on congestion around 1.1650. Daily readings are under pressure and broader weekly charts are also turning down, highlighting room for further losses in the coming sessions. A break below 1.1650 will add weight to sentiment and open up congestion around 1.1600, where oversold daily stochastics could prompt fresh consolidation. Meanwhile, a close above 1.1700 would help to stabilise price action and prompt consolidation beneath 1.1800.