Published: 2025-03-06T02:00:50.000Z
Chart EUR/USD Update: Consolidating test of 1.0800/15 resistance
Technical Analyst
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Bullish break of the 1.0500/33 resistance has seen sharp rally to reach strong resistance at 1.0800/15
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0937 | * | Nov high | S1 | 1.0700 | * | congestion | |
| R3 | 1.0900 | * | congestion | S2 | 1.0665 | * | congestion, Jun low | |
| R2 | 1.0850 | * | congestion | S3 | 1.0600 | * | congestion | |
| R1 | 1.0800/15 | ** | congestion, 61.8% | S4 | 1.0533 | ** | Jan high |
Asterisk denotes strength of level
01:55 GMT - Bullish break of the 1.0500/33 resistance has seen sharp rally to reach strong resistance at the 1.0800/15 congestion and 61.8% Fibonacci level. Deep overbought readings on intraday and daily studies suggest reaction here to consolidate strong run-up from the 1.0360 low of 28 February. A later break, if seen, will open up room for further extension to the 1.0900/37 congestion and November high. Meanwhile, support is raised to the 1.0700/1.0665 congestion and June low which is expected to underpin and sustain gains from the 1.0360 low.