Published: 2025-10-29T08:37:09.000Z
Chart EUR/USD Update: Drifting lower in range
2
Cautious trade around 1.1660 has given way to a drift lower
| 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 | 1.1728 | 17 Oct (w) high | S3 | 1.1500 | ** | congestion | ||
| R1 | 1.1700 | * | congestion | S4 | 1.1400 | ** | cong, Jul-Aug (m) lows |
*Asterisk denotes strength of level
08:30 GMT - Cautious trade around 1.1660 has given way to a drift lower, with prices currently balanced around 1.1630. Intraday studies have turned down and overbought daily stochastics are flattening, suggesting room for further losses towards congestion support at 1.1600. However, the positive daily Tension Indicator and flat oversold weekly stochastics are expected to limit any tests in consolidation. A break, if seen, would add weight to sentiment and open up strong support at the 1.1542 weekly low of 9 October. Meanwhile, resistance remains up to congestion around 1.1700 and should cap any immediate tests higher.