Published: 2025-03-05T02:04:19.000Z
Chart EUR/USD Update: Consolidating sharp breakout, room for further gains
Technical Analyst
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Break of the 1.0500/33 resistance has seen sharp rally to retest resistance at 1.0630, December high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0760 | * | Oct low | S1 | 1.0560 | * | intraday congestion | |
| R3 | 1.0695/00 | * | 50% Sep/Jan fall | S2 | 1.0533 | ** | Jan high | |
| R2 | 1.0666 | * | Jun low | S3 | 1.0500 | * | congestion | |
| R1 | 1.0630 | * | Dec high | S4 | 1.0450 | * | congestion |
Asterisk denotes strength of level
01:55 GMT - Break of the 1.0500/33 resistance has seen sharp rally to retest resistance at 1.0630, December high. Consolidation here see prices unwinding the overbought intraday studies but this is expected to give way to further gains later. Higher will see room to further retrace the September/January losses to resistance at the 1.0666 June low then the 1.0695, 50% Fibonacci level. Meanwhile, support is raised to the 1.0560 intraday congestion then the 1.0533, January high. The latter expected to underpin and sustain gains from the 1.0360, 28 February low.