Published: 2024-12-12T01:47:43.000Z
Chart EUR/USD Update: Consolidating at the 1.0500 level
Technical Analyst
1
Little change, as prices consolidate test of the 1.0500 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0761/75 | * | Oct low, 50% | S1 | 1.0500 | * | congestion | |
| R3 | 1.0700 | * | Feb low | S2 | 1.0448 | * | 2023 year low | |
| R2 | 1.0665/70 | * | Jun low, 38.2% | S3 | 1.0425/00 | * | 26 Nov low, figure | |
| R1 | 1.0600/10 | ** | Apr low, congestion | S4 | 1.0331 | ** | 22 Nov YTD low |
Asterisk denotes strength of level
01:45 GMT - Little change, as prices consolidate test of the 1.0500 level. Below this will see room for deeper pullback to strong support at the 1.0448 2023 year low and the 1.0400 level. However, test here expected to give way to renewed buying pressure later and higher low sought to extend choppy recovery from 1.0331 November low. Above the 1.0600/10 resistance will see room to extend gains and retrace losses from the September high and see room to the 1.0665/70 resistance and 38.2% Fibonacci retracement and the 1.0700 level.