Published: 2025-03-11T08:42:02.000Z
Chart EUR/USD Update: Poised to extend January gains
Senior Technical Strategist
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Anticipated gains have given way to choppy trade around 1.0900
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1000 | ** | break level | S1 | 1.0800 | * | break level | |
| 14 | 1.0970 | ** | 76.4% ret of Sep-Jan fall | S2 | 1.0765 | * | 6 Mar low | |
| R2 | 1.0936 | ** | 5-6 Nov (m) high | S3 | 1.0600 | ** | congestion | |
| R1 | 1.0900 | * | break level | S4 | 1.0533 | ** | 27 Jan (m) high |
Asterisk denotes strength of level
08:30 GMT - Anticipated gains have given way to choppy trade around 1.0900. Intraday studies are turning positive and the daily Tension Indicator continues to rise, highlighting room for a break and extension of January gains towards the 1.0970 Fibonacci retracement. But flat overbought daily stochastics could limit any initial tests in consolidation, before rising weekly charts prompt a further break. Meanwhile, support is at 1.0800 and extends to the 1.0765 low of 6 March. A close beneath here, if seen, would turn sentiment negative and give way to a pullback towards congestion support around 1.0600.