Published: 2025-12-01T00:57:22.000Z
Chart EUR/USD Update: Room for further gains
1
Consolidating test of the 1.1600 level but pressure building on the upside to extend bounce from the 1.1500 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.1728 | 17 Oct high | S1 | 1.1550 | * | congestion | ||
| 14 | 1.1700 | * | congestion | S2 | 1.1500 | * | congestion | |
| R2 | 1.1650 | ** | 25 Sep low, congestion | S3 | 1.1470 | ** | 5 Nov low | |
| R1 | 1.1600 | * | congestion | S4 | 1.1400 | ** | Jul, Aug lows |
Asterisk denotes strength of level
00:50 GMT - Consolidating test of the 1.1600 level but pressure building on the upside to extend bounce from the 1.1500 support. Daily and weekly studies are tracking higher and suggest scope for break here to see extension to the strong resistance at 1.1650 congestion and where reaction can be expected. A later clearance, will extend bounce from the 1.1500/1.1470 support and retrace losses from the September current year high. Meanwhile, support is raised to the 1.1550 congestion which should underpin and sustain bounce from the 1.1500 level.