Chart EUR/USD Update: Leaning lower
Little change, as prices extend consolidation around congestion support at 1.1600
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1800 | * | break level | S1 | 1.1600 | * | congestion | |
| R3 | 1.1728 | ** | 17 Oct (w) high | S2 | 1.1550 | * | break level | |
| R2 | 1.1700 | * | congestion | S3 | 1.1500 | ** | congestion | |
| R1 | 1.1650 | * | congestion | S4 | 1.1470~ | ** | 5 Nov low |
*Asterisk denotes strength of level
08:35 GMT - Little change, as prices extend consolidation around congestion support at 1.1600. Intraday studies are mixed/negative and overbought daily stochastics continue to unwind, highlighting room for a fresh break beneath here. Focus will then turn to the 1.1550 break level. But the rising daily Tension Indicator and rising oversold weekly stochastics should limit any initial tests in consolidation, before the bearish weekly Tension Indicator extends losses towards congestion around 1.1500. Meanwhile, resistance remains at congestion around 1.1650. A close above here, if seen, will extend November gains towards further congestion around 1.1700.