Published: 2025-12-18T08:39:18.000Z
Chart EUR/USD Update: Consolidating above 1.1700 - daily studies under pressure
1
The anticipated test of congestion support at 1.1700 has given way to consolidation
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2000 | ** | congestion | S1 | 1.1700 | * | congestion | |
| R3 | 1.1919 | ** | 17 Sep YTD high | S2 | 1.1650 | * | congestion | |
| R2 | 1.1815 | ** | 76.4% ret of Sep-Nov fall | S3 | 1.1600 | * | congestion | |
| R1 | 1.1800 | * | congestion | S4 | 1.1550 | * | break level |
*Asterisk denotes strength of level
08:30 GMT - The anticipated test of congestion support at 1.1700 has given way to consolidation, with prices currently trading around 1.1730. Intraday studies are leaning lower and daily readings are under pressure, highlighting room for fresh losses in the coming sessions. A break below here will open up further congestion around 1.1650. But rising weekly charts should limit any deeper reactions in consolidation above 1.1600. Meanwhile, any immediate tests higher should be limited in consolidation beneath congestion around 1.1800 and the 1.1815 Fibonacci retracement.