Published: 2025-10-31T08:35:26.000Z
Chart EUR/USD Update: Reached strong support - studies under pressure
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The anticipated break below 1.1600 has reached strong support at the 1.1542 weekly low of 9 October
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1800 | * | congestion | S1 | 1.1542 | ** | 9 Oct (w) low | |
| R3 | 1.1728 | 17 Oct (w) high | S2 | 1.1500 | ** | congestion | ||
| R2 | 1.1700 | * | congestion | S3 | 1.1400 | ** | cong, Jul-Aug (m) lows | |
| R1 | 1.1600 | * | congestion | S4 | 1.1350 | * | congestion |
*Asterisk denotes strength of level
08:25 GMT - The anticipated break below 1.1600 has reached strong support at the 1.1542 weekly low of 9 October, where mixed intraday studies are prompting short-term reactions. Daily readings continue to track lower and broader weekly charts are under pressure, highlighting room for still further losses in the coming sessions. A close beneath here will add weight to sentiment and extend mid-September losses initially to 1.1500. Meanwhile, a close back above congestion resistance at 1.1600, if seen, would help to stabilise price action and prompt consolidation beneath further congestion around 1.1700.