Published: 2025-03-07T01:58:08.000Z
Chart EUR/USD Update: Lower in consolidation from test of 1.0800/15 resistance
Technical Analyst
1
No follow-through on break of resistance at the 1.0800/15 congestion and 61.8% Fibonacci level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0937 | * | Nov high | S1 | 1.0760 | * | Oct low | |
| R3 | 1.0900 | * | congestion | S2 | 1.0700 | * | congestion | |
| R2 | 1.0850 | * | congestion | S3 | 1.0665 | * | congestion, Jun low | |
| R1 | 1.0800/15 | ** | congestion, 61.8% | S4 | 1.0600 | * | congestion |
Asterisk denotes strength of level
01:50 GMT - No follow-through on break of resistance at the 1.0800/15 congestion and 61.8% Fibonacci level as prices unwind the deep overbought intraday and daily studies. Pullback from the 1.0850 congestion see prices consolidating strong rally from the 1.0360 low of last week with support starting at 1.0760. Below this will open up room for deeper pullback to the 1.0700/1.0665 congestion area. Pullback expected to give way to fresh buying interest later and clear break of the 1.0800/15 resistance will see room for extension to the 1.0900/37 congestion and November high.