Published: 2025-10-16T07:43:33.000Z
Chart EUR/USD Update: Edging higher
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Consolidation above congestion support at 1.1600 has given way to the anticipated run highe
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1820 | * | 23 Sep (w) high | S1 | 1.1600 | ** | congestion | |
| R3 | 1.1800 | * | congestion | S2 | 1.1542 | 9 Oct (w) low | ||
| R2 | 1.1700 | * | congestion | S3 | 1.1500 | ** | congestion | |
| R1 | 1.1675 | intraday high | S4 | 1.1400 | ** | cong, Jul-Aug (m) lows |
*Asterisk denotes strength of level
08:35 BST - Consolidation above congestion support at 1.1600 has given way to the anticipated run higher, with prices reaching 1.1675 before settling back as overbought intraday studies unwind. Daily readings have turned higher and oversold weekly stochastics are flattening, highlighting room for a later break above 1.1675. But the bearish weekly Tension Indicator is expected to limit scope in renewed selling interest/consolidation around congestion resistance at 1.1700. Meanwhile, any tests below 1.1600 should be limited in consolidation above strong support at the 1.1542 weekly low of 9 October.