Published: 2025-02-21T01:53:33.000Z
Chart EUR/USD Update: Consolidating retest of 1.0500, scope for break
Technical Analyst
2
Bounce from the 1.0400 congestion has seen prices back to pressure the 1.0500 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0600 | * | congestion | S1 | 1.0400 | * | congestion | |
| R3 | 1.0570 | * | 38.2% Sep/Jan fall | S2 | 1.0350 | * | congestion | |
| R2 | 1.0533 | ** | 27 Jan YTD high | S3 | 1.0300/82 | ** | congestion, 10 Feb low | |
| R1 | 1.0500 | * | congestion | S4 | 1.0210 | ** | 3 Feb low |
Asterisk denotes strength of level
01:45 GMT - Bounce from the 1.0400 congestion has seen prices back to pressure the 1.0500 level. Stretched intraday studies suggest more consolidation here before break likely. Clearance here and the 1.0533 high will extend the broader gains from the January YTD low at 1.0177 and see room to 1.0570, 38.2% Fibonacci level. Higher still will see room to the 1.0600/30 congestion and December high. Meanwhile, support at the 1.0440/1.0400 congestion area now expected to underpin and sustain bullish gains from the 1.0210 low.