Published: 2026-01-21T08:51:45.000Z
Chart EUR/USD Update: Consolidating choppy trade
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Choppy trade is giving way to a drift lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1815 | ** | 76.4% ret of Sep-Nov fall | S1 | 1.1700 | * | congestion | |
| R3 | 1.1800 | * | congestion | S2 | 1.1650 | * | congestion | |
| R2 | 1.1768 | spike 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 - Choppy trade is giving way to a drift lower, as intraday studies turn down, with focus on congestion support at 1.1700. A break beneath here cannot be ruled out. But daily stochastics continue to rise, unwinding positive divergence, and the daily Tension Indicator is also improving, suggesting renewed buying interest towards further congestion around 1.1650. Meanwhile, resistance remains at congestion around 1.1750. A later test above here is possible. But mixed/negative weekly charts are expected to prompt fresh selling interest towards stronger resistance at congestion around 1.1800 and the 1.1815 Fibonacci retracement.