Published: 2024-11-11T01:41:29.000Z
Chart EUR/USD Update: Extend consolidation above 1.0682 low
Technical Analyst
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Still limited below the 1.0700 level as prices extend consolidation above the 1.0682 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0900 | * | congestion | S1 | 1.0682 | ** | 6 Nov low | |
| R3 | 1.0840 | * | 25 Oct high | S2 | 1.0665 | * | Jun low | |
| R2 | 1.0800 | * | congestion | S3 | 1.0600 | ** | Apr YTD low | |
| R1 | 1.0761 | * | Oct low | S4 | 1.0516 | * | Nov low |
Asterisk denotes strength of level
01:35 GMT - Still limited below the 1.0700 level as prices extend consolidation above the 1.0682 low. Prices are unwinding oversold intraday studies but this is expected to give way to break later. Below this will open up the 1.0665 and 1.0600, June and April lows to retest. Meanwhile, resistance is lowered to the 1.0761/1.0800 congestion area which is expected to cap and keep pressure on the downside. Only above here will ease the bearish pressure and see room for stronger bounce to resistance at the 1.0840 and 1.0900 level.