Published: 2025-01-17T13:38:46.000Z
Chart EUR/USD Update: Extending cautious trade
Senior Technical Strategist
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Little change, as prices extend cautious trade beneath congestion resistance at 1.0300
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0436 | 6 Jan high | S1 | 1.0200 | ** | 61.8% ret of 2022-2023 rally | ||
| 14 | 1.0400 | ** | congestion | S2 | 1.0177 | * | 13 Jan YTD low | |
| R2 | 1.0350 | break level | S3 | 1.0100 | * | congestion | ||
| R1 | 1.0300 | minor congestion | S4 | 1.0000 | ** | congestion, figure |
Asterisk denotes strength of level
13:25 GMT - Little change, as prices extend cautious trade beneath congestion resistance at 1.0300. Intraday studies are under pressure and rising daily stochastics are flattening just below overbought areas, suggesting potential for a move lower. Support remains at the 1.0200 Fibonacci retracement and extends to the 1.0177 current year low of 13 January. However, the rising daily Tension Indicator and flattening oversold weekly stochastics are expected to limit any initial tests of this area in renewed consolidation. Meanwhile, a break above 1.0300 should give way to renewed selling interest towards 1.0350.