Published: 2026-01-23T08:50:37.000Z
Chart EUR/USD Update: Further gains to remain limited
2
Consolidation around 1.1685 has given way to a bounce to congestion resistance around 1.1750
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1815 | ** | 76.4% ret of Sep-Nov rally | S1 | 1.1700 | * | congestion | |
| R3 | 1.1800 | * | congestion | S2 | 1.1650 | * | congestion | |
| R2 | 1.1768 | 20 Jan high | S3 | 1.1600 | ** | congestion | ||
| R1 | 1.1750 | * | congestion | S4 | 1.1550 | ** | 76.4% ret of Nov-Dec rally |
*Asterisk denotes strength of level
08:30 GMT - Consolidation around 1.1685 has given way to a bounce to congestion resistance around 1.1750, where mixed intraday studies are prompting fresh consolidation. The daily Tension Indicator is rising, suggesting room for continuation beyond here. But unwinding overbought daily stochastics and mixed /negative weekly charts should limit scope in renewed selling interest beneath congestion around 1.18000 and the 1.1815 Fibonacci retracement. Meanwhile, support is raised to congestion around 1.1700. Any immediate setbacks are expected to give way to consolidation above here.